Fluxys : Press release: Fluxys Belgium sells subsidiary Fluxys & Co to GDF SUEZ

  Fluxys : Press release: Fluxys Belgium sells subsidiary Fluxys & Co to GDF

Brussels, 21 January 2013 - On 18 January 2013, Fluxys Belgium sold its
subsidiary Fluxys & Co to GDF SUEZ for €70 million. Fluxys Belgium acquired
Fluxys & Co from Distrigas in 2008. The company commercialized
border-to-border transmission capacity in the Zeebrugge-Blaregnies (Troll) and
Zeebrugge-Zelzate/Eynatten (VTN) pipelines. Fluxys & Co also held a 49% stake
in the Norwegian partnership Patrederiet BW Gas Fluxys DA, which owns the LNG
carrier BW GDF SUEZ Boston. After the acquisition, Fluxys Belgium integrated
the transmission activities in the Troll and VTN pipelines into its own
infrastructure portfolio. As a result, the stake in the LNG carrier was Fluxys
& Co's only remaining asset.

Since LNG shipping is not a core business of Fluxys Belgium, Distrigas was
given a call option on Fluxys & Co in connection with the 2008 acquisition and
Fluxys Belgium was given a put option in respect of GDF SUEZ. The price for
exercising both options was set at €70 million. The call option was not
exercised, meaning that Fluxys Belgium was able to exercise its put option in
respect of GDF SUEZ.

Financial and accounting data    Press
José Ghekière                    Rudy Van Beurden
Tel.: +32 2 282 73 39            Tel.: +32 2 282 72 30
Fax: +32 2 282 75 83             Fax: +32 2 282 79 43
E-mail: jose.ghekiere@fluxys.com E-mail: rudy.vanbeurden@fluxys.com

Other languages
This press release is also available in French and Dutch on the Fluxys Belgium
website: www.fluxys.com/belgium.


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Source: Fluxys via Thomson Reuters ONE
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