Belgium-based LNG operator Fluxys has merged with its wholly owned subsidiary Fluxys Finance that was in charge of the centralised management of cash funds and financing within the group.
These activities will now be carried out by Fluxys itself.
The transaction simplifies Fluxys’ organisational structure, thereby also making a number of operational, administrative and financial processes simpler, and is in line with Fluxys policy to boost efficiency throughout the group, the company said in a statement on Wednesday.
Under the merger, all of Fluxys Finance’s assets, liabilities, rights and obligations are transferred to Fluxys, allowing the latter to continue its former subsidiary’s activities.