Blackstone-managed funds and Canadian institutional investors agreed to invest $3.1 billion for a 49.9% non-controlling interest in a Mitsubishi subsidiary that holds a stake in LNG Canada. The investment includes four Canadian pension funds: CPP Investments, OMERS, IMCO, and PSP Investments. Mitsubishi valued its stake at approximately $1.6 billion, with the remaining funds directed toward the project’s Phase 2 expansion. The deal is expected to close in November 2026.
Mitsubishi is selling a non-controlling stake in a subsidiary for about $1.6 billion and expects its attributed supply from the project to double to 4.2 million tonnes a year after the expansion.
Read the full storyThe deal gives the group a non-controlling interest in a Mitsubishi subsidiary, while the Japanese company retains control and all of its share of allocated LNG volumes.