The strike could cost Boeing more than $1 billion. But that could be the least of its problems
Citigroup sells trust services unit to JTC for $80 million
ECB should keep cutting rates gradually, Lane says
17-year-old wonderkid Lamine Yamal scores twice as Europe’s soccer powerhouses dominate the weekend’s action
MSF closes programmes in Russia after instruction to deregister
This camel racer hopes to encourage more women to get in the saddle
She left behind her life in the US to race camels in the UAE. Now she’s hoping to inspire other women to follow in her tracks
(Reuters) - The U.S. Federal Energy Regulatory Commission on Friday approved BlackRock's $12.5 billion deal for Global Infrastructure Partners.
Under the deal, which was announced earlier this year, BlackRock said it would pay $3 billion in cash and roughly 12 million BlackRock shares to acquire the asset management giant.
BlackRock and Global Infrastructure Partners declined to comment.
Last year, a member of the U.S. energy regulator called for scrutiny of top asset managers' ownership of power utilities, as the oversight body began a review.
Commissioner Mark Christie said the commission had to "apply strict scrutiny when a huge asset manager like Vanguard or State Street or BlackRock is buying a big chunk of either the (utility) company itself or its holding company."
Global Infrastructure Partners is an infrastructure investor that specializes in investing, owning and operating assets in the energy, transport, digital infrastructure, and water and waste management sectors.
(Reporting by Shivani Tanna in Bengaluru and Ross Kerber in Boston; Editing by Rosalba O'Brien)
