EIP-led group to acquire CDPQ’s interest in Europe’s Fluxys

Energy Infrastructure Partners is to take over the majority of CDPQ’s stake.

  • Fluxys is a Belgian natural gas transmission system operator
  • CPDQ holds a 19.85 percent stake in the company
  • A consortium of Belgian institutional investors has invested alongside EIP

Energy Infrastructure Partners (EIP) and a Belgian consortium of institutional investors announced they have reached an agreement with Caisse de dépôt et placement du Québec (CDPQ) to acquire the pension system’s 19.85 percent stake in Belgian natural gas transmission system operator Fluxys, reports affiliate title PE Hub Europe.

EIP is set to take over the majority of CDPQ’s interest in a deal that is expected to be completed in Q4 2022. No financial terms were disclosed

EIP has worked alongside Brussels-based Fluxys as a partner in FluxSwiss since 2016. Belgian investors AG Insurance, Ethias and the Federal Holding and Investment Company were already shareholders in Fluxys and have partnered with EIP on the deal. Publigas remains the majority shareholder.

“With our new partners we will vigorously pursue our strategy to help shape the green transition,” said Daniël Termont, president of Fluxys and representative of main shareholder Publigas in Fluxys.While forcefully strengthening our existing partnership with Energy Infrastructure Partners, an energy specialist and leader in the global energy transition, we establish an even stronger Belgian anchoring of our activities with AG Insurance, Ethias and the Federal Holding and Investment Company.”

EIP is a Swiss specialist energy investor. It focuses exclusively on energy infrastructure. The firm is headquartered in Zurich.

CDPQ, headquartered in Montreal, invests to generate sustainable returns over the long-term on behalf of Quebec public pension and insurance plans. As of December 31, 2021, CDPQ’s net assets totaled C$419.8 billion ($306.2 billion; €318.3 billion).