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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.
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. ----------------------------------- About Snam Snam is one of the major European integrated groups in the gas infrastructure business. Listed on the Milan Stock Exchange and on the most important global sustainability indexes, Snam employs over 6,000 people and operates in transmission and dispatching of natural gas, LNG regasification, storage and distribution of natural gas.
Press Contacts Claudio Urciuolo : +39 02 3703 9310 Davide Sempio: +39 02 3703 7329
Analysts and Investors Marco Porro: +39 02 3703 7363
About GIC GIC is a leading global investment firm with well over US$100 billion in assets under management. Established in 1981, the firm manages Singapore’s foreign reserves and is uniquely positioned for long-term and flexible investments across a wide range of asset classes, including public equities, fixed income, real estate, and private equity. GIC employs more than 1,200 people across offices in Singapore, Beijing, London, Mumbai, New York, San Francisco, Sao Paulo, Seoul, Shanghai, and Tokyo. For more information, please visit :
About EDF Invest Created in July 2013, EDF Invest is the unlisted investment arm of EDF’s Dedicated Assets, the asset portfolio which covers its long-term nuclear decommissioning commitments in France. EDF Invest targets three asset classes: Infrastructure, Real Estate and Private Equity. Its Infrastructure portfolio already includes a 50% stake in RTE, the French electricity transmission company, as well as a minority stake in Porterbrook, one of three main rolling stock companies (ROSCOs) in the UK acquired in 2014..
Press Contacts Alison Marquilly : +33 1 40 42 15 76
About Crédit Agricole Assurances Leader in Europe, Crédit Agricole Assurances, a 100% subsidiary of Crédit Agricole S.A., is the no. 1 bancassurer in France and in Europe. The Crédit Agricole Assurances Group offers a range of savings, retirement, health, personal protection and property insurance products and services to individuals, professionals, farmers and businesses. These products and services are distributed by the Crédit Agricole Group’s retail banking networks in France and in Europe and by financial advisers and multi-line insurance managers around the world. Crédit Agricole Assurances had 3,500 staff and €30.3 billion in French GAAP revenues at year-end 2014. www.ca-assurances.com
Press Contacts Françoise Bololanik + 33 (0)1 57 72 46 83 / 06 25 13 73 98 Camille Langevin + 33 (0)1 57 72 73 36 / 06 23 35 60 28
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