Japan's Mitsubishi Corp. will sell 49.9% of a holding company that owns a stake in the LNG Canada project to the Blackstone Foundation's structures for $1.6 billion, Reuters reports. The holding itself owns 15% of a Canadian liquefied natural gas plant. The deal is expected to close in November and will allow Mitsubishi to raise funds to finance the expansion of the factory's production capacity.

Japan's Mitsubishi Corp. will sell 49.9% of a holding company that owns a stake in the LNG Canada project to the Blackstone Foundation's structures for $1.6 billion, Reuters reports. The holding itself owns 15% of a Canadian liquefied natural gas plant. The deal is expected to close in November and will allow Mitsubishi to raise funds to finance the expansion of the factory's production capacity.