DIF Infrastructure IV and EDF Invest, as equal shareholders in a consortium have announce that they have closed the acquisition of 100% of Thyssengas, a German gas transportation network, from Macquarie-managed vehicles.
Thyssengas owns 4,200km of gas transportation pipelines serving industrial and municipal clients in North-Rhine-Westphalia. The company has a long standing history in the region, employs over 250 people, and realizes its allowed revenues largely under the regulation of the German Federal Network Agency (Bundesnetzagentur).
As long term infrastructure investors, DIF and EDF Invest aim to maintain the operational excellence of Thyssengas’ network, one of the leading transmission system operators in Germany. The transaction was partially funded by an acquisition loan provided by ING, RBC and SEB. The €320 million note provided by Allianz will remain in place after closing.
Royal Bank of Canada (financial advisor), Clifford Chance (legal), PwC (regulatory, tax, model audit, financial), Poyry (technical and commercial) and Willis (insurance) advised the sponsors while the lenders were advised by Herbert Smith Freehills.