2024-01-20 10:56:51
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[DIGITAL Business Africa] – $12.5 billion. This is the sum paid by Larry Fink, owner of the American company considered the largest asset manager in the world, BlackRock Inc., to buy Global infrastructure partners from the Nigerian Adebayo Ogunlesi. GIP Chairman Adebayo Ogunlesi will join BlackRock’s executive committee and global board of directors.
The transaction is expected to close in the third quarter of 2024 and will enable BlackRock to increase its infrastructure assets under management to $150 billion, with a focus on sectors critical to the energy transition and Digital Economy.
GIP managers intend to distribute part of the profits to their 400 employees. This acquisition comes at a time when BlackRock has just announced adjusted net profit of $1.45 billion, well above the $1.33 billion expected by analysts polled by Bloomberg.
BlackRock en chiffres
Its assets under management exceeded $10 trillion for the first time since 2021 thanks to rising markets and $96 billion in net inflows in the fourth quarter. Revenue rose 7 percent year-on-year to $4.6 billion and operating margins increased slightly to 41.6 percent. According to some indiscretions, the deal would create the second largest infrastructure company in the world
GIP’s main assets include Sydney and London Gatwick airports, the Port of Melbourne and Suez Water Group, large green energy holdings and a stake in a major shale oil pipeline.
In a joint statement, the two sides argued that “the global need for infrastructure, combined with high deficits limiting public spending, creates an unprecedented opportunity for private capital to invest in infrastructure.”
BlackRock has reportedly been the target of attacks from Republicans (the opposition party in the United States) for what they call “woke capitalism” and criticism from climate activists for its failure to do more. to force companies to reduce their carbon emissions.
By Jean Materne Zambo, Sources: ft.com, m.fr.investing.com, lemarin.ouest-france.fr
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