Njord Gas Infrastructure, owned by UBS International Infrastructure Fund and CDC Infrastructure, has bought a 9.4 percent stake in Gassled, the owner of Norway’s gas transport infrastructure.
The 9.4 percent stake was sold by ExxonMobil but spokespeople from both the buy-side and the sell-side declined to comment on the sale price. The $1.5 billion UBS Infrastructure Fund owns 82 percent of Njord Gas Infrastructure, the subsidiary that bought the stake, while CDC Infrastructure owns the remaining 18 percent.
Gassled is the first investment outside of France made by the newly-created CDC Infrastructure, a wholly owned subsidiary of French state-backed bank Caisse des Depots et Consignations. The infrastructure unit was launched in February this year with €600 million of seed assets.