Fluxys Acquires Stake in Open Grid Europe
Posted on 01/27/2023
Brussels-based Fluxys has agreed to acquire from Macquarie Asset Management its approximate 24% stake in Open Grid Europe (OGE), the largest transmission system operator in Germany. The acquisition fits with Fluxys’ strategy to be the essential infrastructure partner for speeding up the energy transition. Fluxys and OGE are frontrunners in decarbonization solutions and as such are actively developing hydrogen and CO2 infrastructure connecting into hydrogen import and CO2 export projects.
Through the agreement with Macquarie Asset Management, Fluxys is to acquire Macquarie European Infrastructure Fund 4’s 23.6 % stake in OGE, alongside a 0.5 % stake owned by Halifax Regional Municipality Master Trust. Closing is expected by the end of March 2023 upon approval of the relevant regulatory authorities and other customary closing conditions. Macquarie had held stakes in OGE since 2012. In July 2012, the sale of OGE to a consortium consisting of British Columbia Investment Management (BCI), Abu Dhabi Investment Authority (ADIA), Macquarie, and MEAG was completed.
The Belgian State holds one share (the golden share) in Fluxys. The Belgian State is represented by the federal Minister of Energy.
