With this investment, Credit Agricole Assurances further strengthens its infrastructure portfolio while TIGF gains a new shareholder that will allow to further support future developments of the company.
In 2013, Snam, GIC and EDF Invest had acquired 100% of TIGF from the Total group, holding indirectly a 45%, 35% and 20% stake respectively in the company.
The move increases pressure on rival contenders for TIGF
, which sources say is worth 2.
A strategic platform linking European gas markets, TIGF
handles a network of around 5,000 kilometers of pipeline - transporting 13% of the total volume of gas supplied to France.
Based in Pau and locally managed, TIGF (Transport et Infrastructures Gaz France) employs over 500 persons, with a gas pipeline network that covers France's South-West region and two important gas storage sites in Lussagnet and Izaute.
We want to share our vision for a strong TIGF and for its role as a leading gas infrastructure located at the heart of the European network.
The consortium selected, consisting of industry-leading operators and long term investors, will support TIGF in its further development, while meeting the commitments made to TIGF s employees and partners , said Christophe de Margerie, Chairman and CEO of Total.
Total initiated dialogue with employee representatives from the commencement of the process leading to an agreement Undertakings in Case of the Sale of TIGF that was signed on January 23.
WilliamsonUK Takreer Talisman Energy Tarahumara Pipeline Targa Resources TC Pipelines LP Technip Tengizchevroil (TCO) TexasIntrastate Pipeline Group The Royal Bank ofScotland TIGF
TIGF works with community financial institutions serving South
Some of the community financial institutions supported by TIGF issue