25.03.2024
CGH owns GasNet, the Czech Republic’s largest gas distribution network, and GasNet Služby, an associated network maintenance and operations business. The regulated gas distribution network transports energy to 2.3 million connection points via 65,000 kilometres of pipelines that cover 80 per cent of the country.
Macquarie first invested in CGH (formerly Innogy Grid Holding) in 2013. It gradually increased its stake in 2015 and again in 2019, when it formed a consortium with British Columbia Investment Management Corporation (BCI) and Allianz to acquire 100 per cent of CGH. This transaction will see Macquarie divest its managed stake of 55.21 per cent.
Will Price, Head of Utilities in EMEA for Macquarie Asset Management, said: “GasNet is a critical component of the Czech Republic’s energy system. We are very proud to have supported the business for more than a decade, during which it has invested heavily to develop the network and significantly improved its operational and safety performance. As Europe’s energy landscape continues to evolve, it’s important that its infrastructure facilitates decarbonisation goals while remaining safe, reliable and affordable.”