Belgium's Fluxys Sells Subsidiary to France's GDF Suez for EUR70 Million

Belgian natural gas network operator Fluxys Belgium SA (FLUX.BT) said that it sold its subsidiary Fluxys & Co. to French energy giant GDF Suez SA (GSZ.FR) for 70 million euros.

MAIN FACTS:

-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 Norwegian partnership 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

-By Brussels Bureau, Dow Jones Newswires; +322 741 1480;

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Fluxys Belgium (EU:FLUX)
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