Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/agreement-to-sell-interest-in-cats-pipeline-infras.shtmlAgreement to sell interest in CATS pipeline & infrastructure for £562m
BG Group has agreed to the sale of its equity interest in the Central Area Transmission System (CATS) gas pipeline in the UK North
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BG Group has agreed to the sale of its equity interest in the Central Area Transmission System (CATS) gas pipeline in the UK North Sea and associated infrastructure to Antin Infrastructure Partners for total proceeds up to £562 million, or approximately $954 million at current exchange rates.
Under the agreement, BG Group will sell its 62.78% interest in CATS for a consideration comprising £523 million (approximately $888 million) on completion of the transaction and a deferred amount of £39 million (approximately $66 million).
The sale does not impact BG Group's rights to capacity in CATS.
