Czech Republic : Allianz and Borealis Infrastructure buy Czech gas transmission operator Net4Gas.
Allianz and Borealis Infrastructure, the infrastructure investment arm of the Ontario Municipal Employees Retirement System (OMERS), will each own a 50 percent stake in N4G.
N4G owns and operates a network of more than 3,600 km of high-pressure pipelines that supply the Czech domestic market and that transit natural gas through the Czech Republic to markets across Europe. N4G is a provider of key infrastructure for the transport of gas in Europe, transporting approximately 35 billion cubic meters of gas each year.
We are pleased to be investing in Net4Gas with its excellent management team, workforce and high-quality operations. It fits well with Allianz s infrastructure portfolio and investment strategy as a long-term investor, said Rainer Husmann, CEO of Allianz Capital Partners, the captive asset manager of Allianz. "Furthermore, this is an important step for us in expanding our portfolio of high-quality infrastructure assets.
The Net4Gas investment fits very well with Borealis Infrastructure s strategy of owning and managing high-quality, large-scale assets that generate sustainable cash flow to pay pensions, said Michael Rolland, President and CEO of Borealis Infrastructure. This acquisition expands our European investment portfolio which includes gas distribution and transportation sector investments in Associated British Ports, HS1 and Scotia Gas Networks.
A key objective of the consortium s gas infrastructure strategy is the creation of a gas market that is integrated and liquid. Such market integration would contribute to securing energy supplies which should benefit regional economies, their respective consumers and the N4G network users.
The transaction is subject to clearance by the relevant authorities.
2013 Al Bawaba (Albawaba.com)
Provided by Syndigate.info an Albawaba.com company
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|Date:||Mar 29, 2013|
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