The Caisse de depot left the shareholding of the Belgian natural gas distributor Fluxys, which has been singled out for its role in the transit of Russian gas to international markets despite international sanctions.
Posted yesterday at 5:49 p.m.
The Caisse had been a shareholder of Fluxys since 2011 and had increased its stake over the years to hold a 19.85% share in the company. It was a consortium of Swiss investors, Energy Infrastructure Partners, which bought back the Caisse’s shares for an amount that has not been made public. The investment was valued at $500 million to $1 billion, according to information provided by the Caisse.
Even if it assured to have got rid of all its interests in Russia to comply with international sanctions, the Caisse de depot had maintained to be always comfortable with the role of Fluxys in Europe. Last March, she said she had no intention of getting rid of this investment.
On Monday, the Caisse explained that the sale of its stake had been made in the normal course of its business. “This transaction is part of the usual management of our portfolio, which aims to optimize returns for our depositors and allow us to seize new investment opportunities,” said the Caisse in a written response.