Group to buy Gassled stake from Statoil

By OGJ editors
-- Solveig Gas Norway AS, a holding company, agreed to buy a 24.1% direct and indirect stake in Gassled joint venture from Statoil ASA for $3.25 billion.

Statoil will retain 5% interest in Gassled, which owns an integrated gas transportation grid and processing facilities on the Norwegian Continental Shelf, transporting Norwegian gas by pipelines to Continental Europe and UK.

A group of funds owns Solveig Gas. The Canada Pension Plan Investment Board owns 45%, Allianz Capital Partners 30%, and Infinity Investments SA owns 25%.

Infinity Investments is a wholly owned subsidiary of the Abu Dhabi Investment Authority, which is a sovereign-wealth fund.

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