HitecVision Acquires Solveig Gas

Source Press Release
Company HitecVisionAbu Dhabi Investment AuthorityAllianzCanada Pension Plan Investment BoardSolveig Gas Norway AS 
Tags Corporate Deals, Deals, Pipelines/ tankers/ distribution
Date April 01, 2019

HitecVision announces that it has, through a portfolio company, signed an agreement to acquire 100% of the shares in Solveig Gas Holdco AS. Solveig Gas is a significant owner in Gassled, the Norwegian gas infrastructure which delivers about a quarter of Europe’s gas consumption.

The owners of Solveig Gas Holdco AS (the owner of 100% of the shares in Solveig Gas Norway AS), namely CPP Investment Board European Holdings S.á r.l., Infinity Investments S.A. and Allianz Infrastructure Norway Holdco I S.á r.l., have entered into a sale and purchase agreement regarding the sale of 100% of the shares in Solveig Gas Holdco AS to a portfolio company of  HitecVision, with a commercial effective date of 1 January 2019.

Solveig Gas Norway AS is a significant owner in Gassled (25.6%), the infrastructure for transporting gas from the Norwegian shelf to the European market. Solveig Gas AS was established in 2011 and is based in Stavanger.

The closing of the transaction is subject to the approval of the Norwegian Ministry of Petroleum and Energy, the Norwegian Ministry of Finance and the Norwegian Competition Authority.

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