The infrastructure funds managed by Goldman Sachs have divested their 50.1% interest in the Spanish natural gas transportation and distribution operator Redexis Gas to the European pension funds Arbejdsmarkedets Tillægspension (ATP) and Universities Superannuation Scheme (USS) as well as the new financial investors Guoxin Guotong Fund (GT Fund) and CNIC Corporation (CNIC). Since 2017, ATP and USS are direct owners of a 49.9% stake in aggregate of Redexis Gas. Once the transaction is complete, Redexis Gas will be owned by ATP (33.3%), USS (33.3%) while GT Fund and CNIC will jointly own 33.3%. The transaction is expected to be completed in the second quarter of 2018 and is subject to Spanish and Danish regulatory approvals.
As of December 2017, Redexis Gas was the second largest transmission and third largest natural gas distribution in Spain. It owns and operates a total of 9,990 km of gas pipelines, of which 1,643 km of gas transmission networks and 8,348 km of distribution networks. Between 2010 and 2017, it invested over €1.1bn to develop the Spanish distribution and transmission gas networks in Spain.