Insurance company Allianz, in a consortium led by Macquarie Infrastructure and Real Assets (MIRA), is purchasing a stake in the Czech gas distribution network GasNet.
MIRA, which currently holds a 49.96 per cent stake indirectly in GasNet, has exercised contractual pre-emption rights over the remaining 50.04 per cent stake currently owned by German energy corporation RWE. Upon completion, the consortium will indirectly own 100 per cent of GasNet.
“We are very pleased to be investing in GasNet, which is our second direct investment in the Czech Republic and an excellent fit with Allianz’s strategy of investing long-term in high-quality core infrastructure.” commented Allianz Chief Investment Officer Christian Fingerle. “We look forward to working with GasNet’s management and our partners to support the development of a long-term sustainable gas strategy while delivering stable risk-adjusted returns for our customers.”
With 2.3 million connections and a network length of circa 65,000 kilometres, GasNet’s distribution network covers 81 per cent of the Czech Republic, serving homes and businesses in all areas of the country except Prague and Southern Bohemia.
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