Allianz and Borealis Infrastructure Buy Czech Gas Transmission Operator Net4Gas
MUNICH, GERMANY and TORONTO, ONTARIO -- (Marketwire) -- 03/28/13 --
Allianz and Borealis Infrastructure have reached an agreement with
RWE AG to purchase Net4Gas, s.r.o. (N4G), the gas transmission and
transit system operator in the Czech Republic.
Allianz and Borealis Infrastructure, the infrastructure investment
arm of the Ontario Municipal Employees Retirement System (OMERS),
will each own a 50 percent stake in N4G.
N4G owns and operates a network of more than 3,600 km of
high-pressure pipelines that supply the Czech domestic market and
that transit natural gas through the Czech Republic to markets across
Europe. N4G is a provider of key infrastructure for the transport of
gas in Europe, transporting approximately 35 billion cubic meters of
gas each year.
"We are pleased to be investing in Net4Gas with its excellent
management team, workforce and high-quality operations. It fits well
with Allianz's infrastructure portfolio and investment strategy as a
long-term investor," said Rainer Husmann, CEO of Allianz Capital
Partners, the captive asset manager of Allianz. "Furthermore, this is
an important step for us in expanding our portfolio of high-quality
"The Net4Gas investment fits very well with Borealis Infrastructure's
strategy of owning and managing high-quality, large-scale assets that
generate sustainable cash flow to pay pensions," said Michael
Rolland, President and CEO of Borealis Infrastructure. "This
acquisition expands our European investment portfolio which includes
gas distribution and transportation sector investments in Associated
British Ports, HS1 and Scotia Gas Networks."
A key objective of the consortium's gas infrastructure strategy is
the creation of a gas market that is integrated and liquid. Such
market integration would contribute to securing energy supplies which
should benefit regional economies, their respective consumers and the
N4G network users.
The transaction is subject to clearance by the relevant authorities.
These assessments are, as always, subject to the disclaimer provided
About Allianz Capital Partners
Allianz Capital Partners (ACP) is the captive, alternative asset
platform of Allianz Group with assets under mana
gement of about 8.5
billion euros. ACP's investment strategy is driven in particular by
matching the long-term obligations of the Allianz Group's life
insurance businesses with assets that generate long-term, stable and
inflation-protected cash flows provided, for example, by investment
opportunities in the infrastructure and renewables sector.
Together with its customers and sales partners, Allianz is one of the
strongest financial communities. Around 78 million private and
corporate customers rely on Allianz's knowledge, global reach,
capital strength and solidity to help them make the most of financial
opportunities and to avoid and safeguard themselves against risks.
About Borealis Infrastructure
Borealis Infrastructure is a leader in direct infrastructure
investing with over a decade of investment experience. Borealis
manages approximately CAD 10 billion in OMERS equity capital through
investments in a diversified portfolio of large-scale infrastructure
assets exhibiting stability and strong cash flows, in sectors
including energy, transportation and government-regulated services.
It has offices in Toronto, London and New York. Borealis is the
infrastructure investment arm of OMERS, one of Canada's largest
pension funds with net assets of more than CAD 60 billion and a AAA
credit rating. For more information please visit www.borealis.ca or
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