- Leonhard Birnbaum: “solid and reliable investor”
RWE AG has sold its German supra-regional gas transmission network – which is comprised in Thyssengas GmbH – to infrastructure fonds managed by Macquarie Infrastructure and Real Assets (Europe) Ltd.. Details of the agreement are subject to confidentiality.
The sale is subject to the approval by the Supervisory Board of RWE AG as well as by the EU Commission and the competent merger-control authority.
“We are delighted to have found a solid and reliable investor for Thyssengas” said Dr. Leonhard Birnbaum, Chief Commercial Officer of RWE. “Macquarie will continue to develop the company with a view to the future – also in the interests of the Thyssengas workforce.”
Thyssengas is a fully functioning supra-regional gas transmission network operator with some 280 employees. It transports almost 10 billion cubic metres of natural gas annually, via a pipeline network of 4,100 kilometres.
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services acting on behalf of institutional, corporate and retail clients and counterparties around the world. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries. Macquarie employs approximately 15,500 people and had assets under management of €225bn at 30 September 2010.
Funds managed by Macquarie Infrastructure and Real Assets, part of Macquarie Group, have a strong track record in responsible investment in utilities and infrastructure, including investments in Thames Water, the water company for London, and Wales & West Utilities, a regulated gas distributor in Wales and the west of England, and Techem, a leading German energy services provider.