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Allianz, Borealis Infrastructure to buy Czech energy utility Net4Gas

2 Apr 2013

Allianz and Borealis Infrastructure, the infrastructure investment arm of the Ontario Municipal Employees Retirement System (OMERS), have agreed to purchase Net4Gas, the gas transmission and transit system operator in the Czech Republic.

Allianz and Borealis Infrastructure will each own a 50 per cent stake in the company.

N4G owns and operates a network of more than 3,600 kilometres of high-pressure pipelines, supplying the Czech domestic market as well as various markets across Europe. The company transports approximately 35 billion cubic meters of gas each year.

Rainer Husmann, CEO of Allianz Capital Partners, the captive asset manager of Allianz, said, ‘We are pleased to be investing in Net4Gas with its excellent management team, workforce and high-quality operations. It fits well with Allianz’s infrastructure portfolio and investment strategy as a long-term investor.

“Furthermore, this is an important step for us in expanding our portfolio of high-quality infrastructure assets.”

Michael Rolland, president and CEO of Borealis Infrastructure, said, ‘The Net4Gas investment fits very well with Borealis Infrastructure’s strategy of owning and managing high-quality, large-scale assets that generate sustainable cash flow to pay pensions.

“This acquisition expands our European investment portfolio which includes gas distribution and transportation sector investments in Associated British Ports, HS1 and Scotia Gas Networks.”

Both firms have previously shown interest in investing into renewable energy technologies. Late last year, Borealis launched a $30m venture fund to invest in biotechnology companies in New Hampshire, US.

Allianz Global has also previously said that it hopes to launch a fund focusing on renewable energy infrastructure, in the first half of 2013.

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