CPPIB to invest over $1 bln in Spanish gas distribution business
Canada Pension Plan Investment Board has partnered with Allianz Capital Partners to buy a minority equity interest in the Spanish gas distribution business of Gas Natural Fenosa. CPPIB and Allianz will invest almost $1.8 billion to acquire a 20 percent stake in the unit, the largest gas distribution network in Spain, serving some 1,100 municipalities. CPPIB’s share of the investment is about over $1 billion or 900 million euros. The transaction is expected to be completed in January 2018. Based in Barcelona, Gas Natural Fenosa is a gas and electricity company.
4 August 2017•4 mins read
