Frankfurt, 03 December 2010
Macquarie-managed funds, consisting of Macquarie European Infrastructure Fund III (MEIF3) and a private infrastructure mandate managed by Macquarie Specialised Asset Management Limited (MSAM), confirm they have signed an agreement to acquire 100 per cent of Thyssengas from RWE.
Thyssengas is the owner and operator of a regulated supra-regional gas transmission network in Germany, transporting almost 10 billion cubic metres of natural gas annually to 56 downstream networks which in turn supply nine million households, as well as approximately 150 industrial customers. Thyssengas consists of over 4,000 kilometres of pipeline, six compressor stations, and various gas blending and metering stations in north-west Germany.
Macquarie-managed funds have a strong track record in responsible investment in regulated utilities and infrastructure, including investments in Thames Water, the UK’s largest water and sewerage company, and Wales & West Utilities, a gas transporter in Wales and the west of England. Macquarie-managed funds have also invested in infrastructure in Germany including Techem, a leading energy services provider.
The transaction remains subject to the approval by RWE’s Supervisory Board, the European Commission and the competent merger control authority. While these approval processes are underway, no further information will be available.
Macquarie Infrastructure and Real Assets (MIRA), part of Macquarie Funds Group, is a leading global alternative asset manager specialising in infrastructure funds, other real asset funds and customised accounts. Established in 1996, MIRA’s team of approximately 400 experienced professionals located in 16 countries manages 43 funds with €69bn of assets under management, including 100 infrastructure assets. MIRA’s in-depth operational expertise and active asset management, combined with access to deal sourcing capability, provide a unique competitive advantage.