France: Liquefied Gas Total to Sell Its Stake in Dunkerque LNG Terminal
Total has announced that was going to enter into an agreement to sell its 9.99 % stake in the Dunkerque LNG terminal, as a part of a broader sale process initiated by EDF (65.01 %) earlier this year.
Paris/France —At the completion of the transactions two buyers, a consortium composed by Fluxys Europe (currently 25 %), Axa Investment Managers and Crédit Agricole Assurances on one hand and another consortium composed of Samsung Securities, IBK Securities and Hanwha Investment & Securities on the other hand, will hold a 35.76 % and 39.24 % respectively. Closing is expected for the third quarter of 2018, once required regulatory approvals have been granted by the relevant authorities. The Group will keep a regasification capacity right of around 1.5 million tons per annum.