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Fluxys Buys 32% Stake in Medgaz Pipe From Iberdrola, Endesa

Fluxys SA, a Belgian natural-gas pipeline operator, agreed to acquire a 32 percent stake in the Medgaz link from Spain’s Iberdrola SA and Endesa SA, expanding its access to supplies from North Africa.

Fluxys will buy 20 percent from Iberdrola and 12 percent from Endesa for about 233 million euros ($308 million), the Brussels-based company said today in a statement. The deal is dependent on Medgaz shareholders not executing their right to purchase the stake.