Fluxys sells subsidiary to GDF Suez for $93 million

1/21/2013

Fluxys sells subsidiary to GDF Suez for $93 million

BRUSSELS -- Fluxys Belgium said that it sold its subsidiary Fluxys & Co to GDF Suez for $93 million. The company commercialized border-to-border transmission capacity in the Zeebrugge-Blaregnies (Troll) and Zeebrugge-Zelzate/Eynatten (VTN) pipelines. Fluxys & Co also held a 49% stake in the Patrederiet BW Gas Fluxys DA, which owns the LNG carrier BW GDF SUEZ Boston.

After the acquisition, Fluxys Belgium integrated the transmission activities in the Troll and VTN pipelines into its own infrastructure portfolio. As a result, the stake in the LNG carrier was Fluxys & Co's only remaining asset. LNG shipping is not a core business of Fluxys Belgium.

Dow Jones Newswires

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