Enagas buys stakes in BBG and Saggas

Enagás said it has entered into an agreement with a fund managed by Deutsche Asset & Wealth Management to acquire 30% of Bahía de Bizkaia Gas and 30% of Saggas.

These companies are the owners of the Bilbao and Sagunto LNG regasification plants, respectively.

With this transaction, Enagás intends to reinforce its ownership interest in BBG and become a shareholder of Saggas.

Following the acquisition, BBG shareholders would include Enagás, which would increase its shareholding (currently 40%) to 70%, and Ente Vasco de la Energía that owns the remaining 30%.

Saggas’ shareholder structure would be formed by two companies, each with a 50% shareholding: Infraestructuras de Gas, which in turn is formed by Unión Fenosa Gas and Oman Oil Company and Iniciativas de Gas, made up of Enagás and Osaka Gas.

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Press Release; Image: Enagas

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