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