BRUSSELS Feb 26 Belgian natural gas
infrastructure company Fluxys has teamed up with
private equity firm Global Infrastructure Partners (GIP) to bid
for Czech gas transmission system Net4Gas, Belgian business
daily De Tijd said.
Net4Gas is one of the assets Germany's No. 2 utility RWE
is selling as it cuts debt under pressure from ratings
De Tijd, without specifying its sources, said on Tuesday
that Fluxys and GIP had already put in a binding bid.
Fluxys and RWE declined to comment. GIP could not
immediately be reached for comment.
Other likely bidders include EPH and Macquarie
jointly, Czech financial group KKCG and German insurer Allianz
. The bids, due earlier this month, were expected to
range between 1.5 and 2.0 billion euros.
Net4Gas operates more than 3,600 kilometers (2,200 miles) of
pipelines crossing the whole of the Czech Republic and serving
as a major access point for Russian gas into western Europe.
Fluxys, which controls listed Belgian pipeline operator
Fluxys Belgium, is majority owned by Publigas, a
Belgian municipal holding, with Caisse de depot et placement du
Quebec owning a 20 percent stake.
Fluxys Europe BV is the Fluxys subsidiary
holding the group's non-regulated Belgian activities and its
activities outside Belgium.
(Writing by Philip Blenkinsop; Additional reporting by Tom
Kaeckenhoff in Frankfurt; Editing by Mark Potter)