The infrastructure investment arm of OMERS, Borealis Infrastructure, and Allianz have completed their purchase of Net4Gas.

They will each own a 50% stake in the company, which operates a network of pipelines that both supply the Czech domestic market and transport natural gas through the Czech Republic to markets across Europe.

Net4Gas transports about 35 billion cubic metres of gas annually.

“Borealis is very pleased to have completed its first investment in the Czech Republic,” says Michael Rolland, president and CEO of Borealis Infrastructure. “NET4GAS strongly augments our existing holdings in the energy and transportation sectors in the U.K. and Europe.”

Financial terms of the deal were not disclosed.

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Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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