GasLog Partners receives $7.70 per unit buyout offer from GasLog

GasLog Partners announced that its board of directors received an unsolicited non-binding proposal from GasLog to acquire all of the outstanding common units representing limited partner interests of the partnership not already beneficially owned by GasLog. In connection with the proposed transaction, each common unit would receive overall value of $7.70 per common unit in cash, consisting in part of a special distribution by the partnership of $2.33 per common unit in cash to be distributed to the partnership’s unitholders immediately prior to the closing of the proposed transaction and the remainder to be paid by GasLog as merger consideration at the closing of the proposed transaction. The Partnership’s board of directors has authorized its conflicts committee, consisting only of non-GasLog affiliated directors, to retain advisors and to review, evaluate, negotiate and accept or reject the proposed transaction. GasLog’s proposal is non-binding and is subject to the negotiation and execution of mutually acceptable definitive documentation. There can be no assurance that any definitive documentation will be executed or that any transaction will materialize.