EDF Group and Total have entered into negotiations with two groups of investors for the sale of their combined 75% interest in Dunkerque LNG, owner and operator of the LNG terminal of Dunkerque.
EDF holds a 65.01% stake with Total holding a further 9.99% stake. One consortium composed of Fluxys, AXA Investment Managers – Real Assets, on behalf of clients, and Crédit Agricole Assurances has committed to acquire a stake of 35.76%. The other 39.24% has been acquired by a consortium of Korean investors led by IPM Group in collaboration with Samsung Asset Management Co., Ltd and composed of Samsung Securities Co. Ltd., IBK Securities Co. Ltd. and Hanwha Investment & Securities Co. Ltd.
The transaction will allow current 25% shareholder Fluxys, with the support of Axa Investment Managers – Real Assets and Crédit Agricole Assurances, to take control and consolidate Dunkerque LNG in line with its global growth strategy in gas infrastructures.
EDF, as a client of Dunkerque LNG, remains engaged in the long term with the terminal, which will continue serving its gas strategy. The deal is expected to be closed in the second half of 2018 once approval has been given by the French authorities.
For more information, visit: www.edf.fr/en/the-edf-group
3rd July 2018