March 2, 2018 / 11:32 AM / 21 days ago

Snam and Fluxys to become sole shareholders in Interconnector UK pipeline

MILAN (Reuters) - Italy’s Snam and Belgium’s Fluxys said on Friday they would become the only shareholders in the Interconnector UK pipeline.

FILE PHOTO: The logo of Italian natural gas infrastructure company SNAM is seen at their headquaters in San Donato Milanese, Italy, April 27, 2016. REUTERS/ Stefano Rellandini/File Photo

The two gas infrastructure groups in the next few days will acquire the 33.5 percent stake that is currently owned by Canadian pension fund Caisse de depot et placement du Quebec (CDPQ), the two companies said in statement.

The transaction is worth some 75 million pounds ($103 million) and, at the end of the operation, Fluxys will hold just over 76 percent in Interconnector UK while Snam a 23.7 stake.

The Interconnector is a two-direction pipeline, which transports gas between Britain and continental Europe.

Reporting by Giulia Segreti

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below