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AlwaysFree: Macquarie Asset Management Agrees Sale Of Open Grid Europe Stake

Author: SSESSMENTS

According to the company’s website news release on January 27, 2023, Macquarie Asset Management has reached an agreement to sell Macquarie European Infrastructure Fund 4’s stake in Open Grid Europe (OGE) to Fluxys.

OGE is the owner and operator of a regulated natural gas transmission system in Germany, with a 12,000-kilometre gas pipeline network transporting gas throughout Germany and to neighbouring European countries.

With this agreement, Macquarie European Infrastructure Fund 4 will sell its 23.6 per cent stake in OGE, alongside a 0.5 per cent stake owned by Halifax Regional Municipality Master Trust, to Fluxys. Fluxys is a leading independent infrastructure group active across Europe and in Latin America with a purpose-driven strategy to be an essential infrastructure partner for accelerating the energy transition.

Hilko Schomerus, a Managing Director at Macquarie Asset Management, said: “Since our investment in 2012, OGE has progressed major upgrades across its network to prepare its infrastructure for the future. With a network spanning the length and breadth of the country, OGE plays a central role in Germany’s energy system today and is paving the way forward for a hydrogen economy. We are proud to have supported its journey over the past decade. We wish the company and its new and existing shareholders well in the next chapter of its history as it takes forward the important work of decarbonising Germany’s energy mix.”

OGE is playing a critical role in advancing the energy transition, supporting efforts to accelerate the use of green gases across the German economy and the transmission of CO2 , facilitating carbon capture and reutilisation. Through upgrades to its infrastructure, OGE aims to create a nationwide hydrogen and CO2 network.

The terms of the transaction have not been disclosed. The transaction is expected to reach financial close in March 2023, subject to the receipt of regulatory approvals and satisfaction of customary closing conditions.

Tags: AlwaysFree,English,Europe,Gas

Published on February 1, 2023 5:38 PM (GMT+8)
Last Updated on February 1, 2023 5:39 PM (GMT+8)