The Marguerite Fund completes the acquisition of a stake in AS Latvijas Gaza, in Latvia

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The Marguerite Fund completes the acquisition of a stake in AS Latvijas Gaza, in Latvia

The Marguerite Fund has announced that it has acquired a 28.97% stake in AS Latvijas Gāze (LG), the gas company in charge of the transmission, distribution, storage, and supply of natural gas in Latvia.

The Marguerite Fund has acquired the shares from Uniper Ruhrgas International, a subsidiary of E.ON, which remains a shareholder in LG retaining an 18.26% stake.

LG operates and maintains the Latvian gas transmission and gas distribution pipelines as well as the Inčukalns underground gas storage facility, the third largest storage facility in the EU and a strategic asset for the security of gas supply in the Baltics.

LG also ensures the supply of natural gas to more than 400,000 domestic customers and provides gas to customers in Estonia, Northwest Russia and Lithuania.

Nicolás Merigó, CEO of Marguerite Adviser SA, declared:

“Through this transaction the Marguerite Fund will become the second largest shareholder in LG. We look forward to working together with the other stakeholders and management."

The Marguerite Fund was established with the backing of six major European financial institutions to make capital-intensive infrastructure investments and will target attractive long-term and stable risk-adjusted returns.

The core sponsors are: Caisse des dépôts et consignations, Cassa Depositi e Prestiti, European Investment Bank, Instituto de Crédito Oficial, KfW and PKO Bank Polski SA.

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