Allianz Unit Buys 6.4% In Gassled From Total For EUR580 Million
08 June 2011 - 7:26PM
Dow Jones News
German insurer Allianz SE's (ALV.XE) unit Silex Gas Norway
agreed Wednesday to acquire a 6.4% stake in Norwegian gas
transportation network Gassled from French oil and gas giant Total
SA (TOT), for about EUR580 million.
Gassled transports Norwegian gas from production sites by
pipeline to consumers on the European continent and the U.K.
Silex Gas Norway is a wholly-owned subsidiary of Allianz Capital
Partners.
On Monday Allianz, together with Canada Pension Plan Investment
Board and Infinity Investments SA, a wholly-owned unit of the Abu
Dhabi Investment Authority, acquired a 24.1% stake in Gassled from
Statoil ASA (STL.OS) for about EUR2.2 billion.
The deal is subject to regulatory approvals.
-By Neetha Mahadevan, Dow Jones Newswires; +49 69 2972 5507;
neetha.mahadevan@dowjones.com