London, 23 February 2015
A consortium of funds managed by Macquarie Infrastructure and Real Assets (MIRA) has reached an agreement with RWE to acquire a further 15% interest in RWE Grid Holding (RGH), the largest natural gas distribution network in the Czech Republic.
The Consortium, which comprises majority investor Macquarie European Infrastructure Fund 4 (MEIF4) and another Macquarie-managed vehicle, will increase its total equity interest in RGH to 49.96%.
RGH owns and operates approximately 80 per cent of the Czech Republic’s gas distribution network, with approximately 64,500 km of gas pipeline, over 2.3 million connection points and a regulated asset base in excess of €1.5 billion.
“Following a successful and active partnership with RWE in this venture, we are delighted to be able to increase our investment in RGH. We look forward to working closely with RWE to ensure the network continues to deliver a secure and reliable gas service for its customers throughout the Czech Republic,” said Edward Beckley, European Head of MIRA.
Completion of the transaction is subject to approval from RWE AG’s Supervisory Board with final close expected to occur in March 2015.