Caisse Acquires 10 Percent Stake in Fluxys G (Belgium)

 

The Caisse de dépôt et placement du Québec acquired a 10% stake in the capital of Fluxys G, the parent company of Fluxys SA, via a capital increase of €150 million.

The Caisse acquired the stake in the capital of Fluxys G under an agreement concluded with Publigas, majority shareholder in Fluxys G, on 28 January 2011. Publigas will continue to hold a 90% share in the capital of Fluxys G.

The capital increase enables Fluxys G to boost its equity with a view to funding its significant investment programme.

As a result of the Caisse’s participation in the capital of Fluxys G, the General Meeting of Gluxys G decided to appoint Mr Macky Tall as a new Director, on the proposal of the Caisse.

About the Caisse de dépôt et placement du Québec

The Caisse de dépôt et placement du Québec is a financial institution that manages funds primarily for public and private pension and insurance plans. As at December 31, 2010, it held CA$151.7 billion in net assets. As one of the leading institutional fund managers in Canada, the Caisse invests in the main financial markets as well as in private equity and real estate.

About Publigas

Publigas is the holding company that manages the shareholdings of Belgian municipalities in the group Fluxys G.

About Fluxys G

As a transmission infrastructure company operating on the North-Western European natural gas market, Fluxys G wishes to enhance security of supply and the functioning of the market by promoting cross-border natural gas flows and transfers in that region. In Belgium, Fluxys G builds and operates infrastructure for natural gas transmission, natural gas storage and liquefied natural gas terminalling. Fluxys and Fluxys LNG are for that purpose appointed independent system operators. As their activities are of general economic interest, Fluxys aims to further reinforce the role of its grid as a natural gas crossroads in North-Western Europe.

To foster the integration of the North-Western European natural gas market, Fluxys G develops a profitable set of stakes in and industrial partnerships with companies in the business of natural gas transmission and storage, LNG terminalling and facilitating spot markets.

Safety, efficiency, sustainability and profitability are at the centre of Fluxys G’s approach.

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Source: Fluxys, March 31, 2011;