Enagas Finalizes TgP Acquisition
Enagás of Spain said it has completed the acquisition of 22.38% of Transportadora de Gas del Perú (TgP), after reaching an agreement on 31 January with the Hunt and Repsol companies, which owned 12.38% and 10% of TgP.
Enagás has also agreed to sell 2.38% of TgP to Canada Pension Plan Investment Board (CPPIB) and to buy from CPPIB 30% of Compañía Operadora de Gas del Amazonas (Coga), which operates TgP.
Once the transactions take place, Enagás will be the owner of 20% of TgP and 30% of Coga.
Having a strategic aim, a corporate governance framework will be established with respect to Coga, allowing Enagás to actively participate in the operation of the infrastructure.
Enagás’ investment in all these transactions will total $481 Mln.
Press Release, March 24, 2014; Image: Peru LNG