Swiss fund buys Canadians' stake in Fluxys - Companies

Swiss fund buys Canadians’ stake in Fluxys – Companies

A Swiss investment fund and a consortium of Belgian investors have reached an agreement with the Canadian pension fund CDPQ to acquire the latter’s shares in Fluxys, according to a press release released Friday evening. The new Swiss shareholder paid nearly 800 million euros for the shares of the Canadians, write the newspapers De Tijd and L’Echo.

Fluxys is a gas network operator which operates in Belgium via Fluxys Belgium, but also in other countries.

“Energy Infrastructure Partners (EIP, the Swiss fund, Ed.) will take over the majority of CDPQ’s stake. An infrastructure investor and specialist in the energy sector, EIP has been working alongside Fluxys since 2016 as a partner in FluxSwiss” , according to the Fluxys press release. Alongside EIP, AG Insurance, Ethias and SFPI (already a shareholder) are taking over part of CDPQ’s stake (19.85%) in Fluxys.

According to L’Echo and De Tijd, EIP paid nearly 800 million for the shares of CDPQ. Enough to value Fluxys at nearly 4 billion euros.

Fluxys is a gas network operator which operates in Belgium via Fluxys Belgium, but also in other countries. “Energy Infrastructure Partners (EIP, the Swiss fund, Ed.) will take over the majority of CDPQ’s stake. An infrastructure investor and specialist in the energy sector, EIP has been working alongside Fluxys since 2016 as a partner in FluxSwiss” , according to the Fluxys press release. Alongside EIP, AG Insurance, Ethias and SFPI (already a shareholder) are taking over part of CDPQ’s stake (19.85%) in Fluxys. According to L’Echo and De Tijd, EIP paid nearly 800 million for the shares of CDPQ. Enough to value Fluxys at nearly 4 billion euros.

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