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Snam and Fluxys to become sole shareholders in Interconnector UK pipeline

Published 2018-03-02, 06:26 a/m
© Reuters.  Snam and Fluxys to become sole shareholders in Interconnector UK pipeline

MILAN, March 2 (Reuters) - Italy's Snam SRG.MI and Belgium's Fluxys FLUX.BR said on Friday they would become the only shareholders in the Inter connector UK pipeline.

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

The transaction is worth some 75 million pounds ($103million) 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.($1 = 0.7247 pounds)

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