Snam, GIC and EDF Invest have completed the operation aimed at the entry of Crédit Agricole Assurances in the capital of TIGF with a 10% stake. The announcement is consequent to the realization of all the conditions necessary for the completion of the transaction.
By virtue of this, Snam, GIC, EDF Invest and Crédit Agricole Assurances hold, respectively, indirectly, 40,5%, 31,5%, 18% and 10% of the share capital of TIGF.
With this transaction, TIGF welcomes a new shareholder capable of further contributing to its development, while Crédit Agricole Assurances significantly strengthens its investment portfolio in the infrastructure sector.
Headquartered in Pau, TIGF employs around 500 people and operates a 5.000-kilometre pipeline network and two major storage sites in Lussagnet and Izaute. TIGF represents a strategic platform for the interconnection of European gas markets, contributing to their further liquidity and ensuring the security of supplies to France and Europe.
