BlackRock Buys Global Infrastructure Partners in Deal Valued at More Than $12 Billion

BlackRock is buying independent infrastructure fund manager Global Infrastructure Partners in a cash-and-stock deal valued at more than $12 billion.

The deal announced Friday includes $3 billion in cash and approximately 12 million shares of BlackRock. About 30% of the total consideration, all in stock, will be deferred and is expected to be issued in approximately five years.

GIP, which was founded in 2006, manages more than $100 billion in client assets across infrastructure equity and debt, with a focus on energy, transport, water and waste, and digital sectors.

Read the source article at AP News