Snam, GIC and EDF Invest finalize the entry of Crédit Agricole Assurances into the share capital of TIGF
Paris/San Donato Milanese, February 27, 2015 – Snam, GIC and EDF Invest finalized yesterday the entry of Crédit Agricole Assurances into the share capital of TIGF with a 10% stake. This announcement follows the fulfillment of all the required conditions precedents.
As a result, Snam, GIC, and EDF Invest together with Crédit Agricole Assurances hold respectively 40.5%, 31.5%, 18.0% and 10.0% of the share capital of TIGF indirectly.
With this investment, TIGF has a new shareholder that will allow to further support its development, while Crédit Agricole Assurances further strengthens its infrastructure portfolio.
Based in Pau, TIGF employs approximately 500 persons and operates a 5,000 km-long gas pipeline network and two important gas storage sites in Lussagnet and Izaute. TIGF represents a strategic platform for the interconnection of the European gas markets, thus contributing to their further liquidity and guaranteeing security of supplies to France and Europe.
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