Macquarie Infrastructure and Real Assets to invest in Compania Logistica de Hidrocarburos (CLH)
London/Madrid, 17 May 2017
Macquarie European Infrastructure Fund 5 (MEIF5), which is managed by Macquarie Infrastructure and Real Assets (MIRA), announces that it has entered into binding agreements to acquire a 20 per cent stake in Compania Logistica de Hidrocarburos (CLH), owner and operator of the largest refined oil pipeline network and oil storage capacity in Spain.
CLH owns and operates approximately 92% of Spain’s refined products pipeline network (c. 4,020km in length) and 54% of Spain’s oil storage capacity (over 8 million cubic metres across 40 storage facilities). In addition to these core activities, CLH is also active in the UK (approximately 2,000km of pipeline and 1 million cubic metres of storage capacity across 16 facilities) and Ireland (fuel storage terminal at Dublin Airport)
“CLH is a quality infrastructure business in a growing economy, benefiting from resilient, well diversified, inflation linked and largely contracted revenues. We look forward to working with the co-shareholders, customers, management and employees of CLH to continue providing high quality services” said Martin Stanley, Global Head of Macquarie Infrastructure and Real Assets (MIRA).
MEIF5 is acquiring the 20% stake in CLH from AMP Capital (10%) and Oman Oil Company SAOC (10%).
Terms of the acquisition have not been disclosed.
Completion of the acquisition is expected by the end of June 2017.
Macquarie is a diversified financial group providing clients with asset management, banking, advisory and risk and capital solutions across debt, equity and commodities.
Founded in 1969, Macquarie operates in 64 office locations in 28 countries and employs more than 14,300 people. Assets under management total approximately €322 billion*.
About Macquarie Infrastructure and Real Assets (MIRA)
MIRA is part of Macquarie Asset Management, the asset management arm of Macquarie.
MIRA pioneered Infrastructure as a new asset class for institutional investors. For more than 20 years we have been investing in and managing the assets that people use every day – extending beyond Infrastructure to Real Estate, Agriculture and Energy.
Our dedicated operational and financial experts work where MIRA’s funds invest and their portfolio companies operate. They are part of a far reaching global team which helps clients to see across the regions and deep into local markets.
MIRA has assets under management of €110.4 billion invested in 135 portfolio businesses, ~300 properties and 4.5m hectares of farmland*.
*at 31 March 2017