Blackstone Divests $1 Billion Natural Gas Facilities to TransAlta
BX is trading near its 52-week low of $101.73 (8.6% above the low).
Summary
Blackstone is selling two natural gas-fired peaking facilities near Denver, Colorado, to Canadian power producer TransAlta Corp for approximately $1 billion. This transaction represents a strategic divestment for the asset manager. While a notable deal, it is a modest portfolio adjustment for Blackstone, which recently closed a $13.1 billion Asia private equity fund and reported strong first-quarter earnings.
At the time of this announcement, BX was trading at $110.50 on NYSE in the Finance sector, with a market capitalization of approximately $134.7B. The 52-week trading range was $101.73 to $190.09. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.