Macquarie Asset Management sells OGE stake to Fluxys (updated)

Fluxys Belgium SA

27/01/2023 08:38

(Adds details)
       FRANKFURT, Jan 27 (Reuters) - Macquarie Asset Management
and Belgium's Fluxys on Friday said they have agreed the sale of
Macquarie's 23.6% share in leading German gas pipeline grid Open
Grid Europe (OGE) to Fluxys  FLUX.BR .
    Macquarie, which had held stakes in OGE since 2012, did not
disclose financial details but said the transaction would
probably close in March 2023, depending on approval by the
authorities.
    OGE is the owner and operator of a regulated natural gas
transmission network across Germany and neighbouring European
countries.
        "Fluxys' acquisition of a stake in OGE is a perfect
strategic fit," said the Chief Executive of Fluxys, Pascal De
Buck in the joint statement of the two firms.
  
        "We are excited to join forces with the co-shareholders
and support OGE's forward-looking approach to make the energy
transition happen," he added.
  
        OGE is among the gas carriers preparing for 
    the shift
     to renewables to complement Germany's plan to produce,
import and market clean hydrogen, derived from carbon-free wind
and solar power, as a future energy source.
  
        Macquarie in Oct. 2021 bought OGE sector peer 
    Thyssengas,
     having already owned it between 2011 and 2016.
  
 (Reporting by Vera Eckert and Christoph Steitz, editing by
Miranda Murray and Matthias Williams)
 ((vera.eckert@thomsonreuters.com; +49 30 2201 33654;
@EckertVera;))