Site icon Baltimore Chronicle

BlackRock buys GIP: the deal will be a record

BlackRock is buying Global Infrastructure Partners for $12.5 billion. The agreement will be a record for the investment giant. Bloomberg reports this.

► Subscribe to the Telegram channel “Ministry of Finance”: the main financial news

Global Infrastructure Partners (GIP) specializes in investments in infrastructure, such as energy , transportation, water supply and waste management.

BlackRock will pay $3 billion in cash and stock worth about $9.5 billion. The deal is expected to close in the third quarter.

The acquisition of GIP, which manages $100 billion, is BlackRock's largest agreement in more than a decade.

Exit mobile version