Tuesday 10 May 2011

onsortium eyes Statoil pipeline stake - sources | Reuters

Abu Dhabi Investment Authority (ADIA), Canada Pension Plan Investment Board (CPPIB) and German insurer Allianz (ALVG.DE) are in talks to buy a stake in a Norwegian gas pipeline from Statoil (STL.OL), sources said.

The three financial investors have teamed up and are discussing the acquisition of at least a 20 percent stake in Gassled, a Norwegian gas pipeline network, three people familiar with the matter said on Monday.

Statoil has said it was exploring reducing its 28.5 percent stake in Gassled, valued by industry sources at more than $3 billion. A spokesman said the company would not comment on details of that process.

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