CPPIB to invest $1.3 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 €$1.5 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 $1.34 billion (€900 million). The transaction is expected to be completed in January 2018. Based in Barcelona, Gas Natural Fenosa is a gas and electricity company.
3 August 2017•5 mins read
