A consortium of investment firms that includes the CPPIB has completed its acquisition of a 24.1% stake in the Gassled Joint Venture from Statoil ASA. The consortium entered into an agreement to acquire the stake in June 2011.
The buyer is Solveig Gas Norway AS, a holding company that is approximately 40% owned by CPPIB, 30% by Allianz Capital Partners and 30% by Infinity Investments SA, a subsidiary of the Abu Dhabi Investment Authority. The total value of the transaction as announced on June 6, 2011 is NOK 17.35 billion or approximately C$3.18 billion.
Established in 2003, Gassled is an unincorporated joint venture that owns the majority of the gas transport infrastructure on the Norwegian continental shelf.
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Originally published on benefitscanada.com
