Allianz to invest in Czech gas distribution network GasNet

Downloads

Related links

Allianz Capital Partners (ACP) on behalf of Allianz insurance companies has, in a consortium led by Macquarie Infrastructure and Real Assets (MIRA), reached an agreement to purchase a stake in GasNet.

MIRA, which currently holds a 49.96 per cent stake indirectly in GasNet, has exercised contractual pre-emption rights over the remaining 50.04 per cent stake currently owned by RWE. Upon completion, the consortium will own 100 per cent indirectly in GasNet.

GasNet is a regulated gas distribution network in the Czech Republic, with 2.3 million connections and a network length of circa 65,000km. GasNet’s distribution network covers 81 per cent of the Czech Republic, serving homes and businesses in all areas of the country except Prague and Southern Bohemia. The majority of the GasNet pipeline network consists of low pressure, local grid pipes constructed from polyethylene, which can be also directly utilized for distribution of green gas or hydrogen in the future.

Christian Fingerle, Chief Investment Officer at ACP, said: “We are very pleased to be investing with GasNet, which is our second direct investment in the Czech Republic and an excellent fit with Allianz’s strategy of investing long-term in high-quality core infrastructure. We look forward to working with GasNet’s management and our partners to support the development of a long-term sustainable gas strategy while delivering stable risk-adjusted returns for our customers.”

The transaction is expected to reach financial close in the second half of 2019, subject to the satisfaction of customary closing conditions and regulatory approvals.

About Allianz Capital Partners

Allianz Capital Partners is one of Allianz Group's asset managers for alternative equity investments and is part of Allianz Global Investors. With offices in Munich, London, Luxembourg, New York and Singapore, Allianz Capital Partners manages more than 34 billion euros of alternative assets on behalf of Allianz Group and institutional investors.*

Our investment focus is on private equity, infrastructure and renewable energy. Our investment strategy is targeted to generate attractive, long-term and stable returns for our clients. 

* Data as at June 30, 2020

About Allianz Global Investors

Allianz Global Investors is a leading active asset manager with 760 investment professionals in 25 offices worldwide and managing 538 billion euros in assets for individuals, families and institutions*.

Active is the most important word in our vocabulary. Active is how we create and share value with clients. We believe in solving, not selling, and in adding value beyond pure economic gain. We invest for the long term, employing our innovative investment expertise and global resources. Our goal is to ensure a superior experience for our clients, wherever they are based and whatever their investment needs.

Active is: Allianz Global Investors

* Data as at June 30, 2020 

The Allianz Group is one of the world's leading insurers and asset managers with more than 100 million retail and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing 766 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage 1.7 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2019, over 147,000 employees achieved total revenues of 142 billion euros and an operating profit of 11.9 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

Press contacts

Pia Gröger
Allianz Capital Partners
As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:
Disclaimer

Further information

Allianz and Telefónica create a partnership to deploy fiber in Germany through an open wholesale company

Allianz and Telefónica have reached an agreement for the creation of a joint venture to deploy Fiber-to-the-Home (FTTH) in Germany. Following closing, Allianz Group and Telefónica Group will each hold 50 percent in the joint venture company under a co-control governance model.

Allianz to invest in Portuguese gas distributor Galp Gás Natural Distribuição

Allianz Capital Partners on behalf of Allianz insurance companies and the Allianz European Infrastructure Fund has signed an agreement to purchase from Galp Energía S.A. a 75 percent stake in Galp Gás Natural Distribuição.

Allianz has more than 100 wind and solar parks with its first investments in Poland

Allianz Capital Partners on behalf of Allianz insurance companies (“Allianz”) has closed the acquisition of its first renewable energy installations in Poland from ENERTRAG, consisting of nine sites split into two projects, Dargikowo and Karlino. With these additions, Allianz now owns more than 100 wind and solar parks.