GasLog Ltd is looking to take publicly-listed counterpart GasLog Partners private.

In a Securities and Exchange Commission filing made before the New York open on Wednesday, Peter Livanos-backed GasLog Ltd said it was offering $7.70 per share, including a $2.33 per share special dividend to take the company off public markets.

The offer is worth approximately $398m.

“[GasLog Ltd] is well positioned to negotiate and complete the transaction in an expeditious manner,” GasLog director Anthony Papadimitriou said in a letter sent on 24 January to GasLog Partners.