Spain's Enagas and Belgium's Fluxys, both natural gas infrastructure companies, have closed the sale of their total stakes in the Swedish TSO Swedegas company to FS Gas Transport AB, Enagas announced Wednesday.
Enagas' press release said the transaction, agreed last September, had been closed within the expected term after obtaining the approval of the Swedish competition authority.
According to the press release, the sale closed for 1,033 million Swedish Krona (SEK) each (around €100 million based on the current exchange rate).
Enagas proclaimed the transaction is in line with the Spanish company's strategy to rotate some assets outside Spain in order to undertake potential new investments.
FS Gas Transport AB is an indirectly, wholly owned subsidiary of First State Investments managed European Diversified Infrastructure Fund II.
Swedegas is the operator of the Swedish Gas System and owns Sweden’s entire high-pressure gas pipeline network. Since 2015 its shareholders were Enagas and Fluxys, each with a 50 percent share.
By Muhsin Baris Tiryakioglu