Macquarie Infrastructure and Real Assets (MIRA) has agreed to sell its 69.4 percent interest in Societa Gasdotti Italia (SGI), the largest independent gas transmission operator in Italy, to Ontario Teachers’ Pension Plan Board.
SGI has a 1,700-kilometer (1,056-mile) high pressure pipeline network that transports natural gas to key industrial and urban centers.
A consortium consisting of MIRA and Swiss Life acquired SGI from Eiser Global Infrastructure Fund in 2016 in what was at that time one of the largest deals in the Italian natural gas transport industry. MIRA will now sell SGI on behalf of Macquarie European Infrastructure Fund 4, a €2.7 billion ($3.3 billion) closed-end investment vehicle.
In October, SGI commissioned energy consultancy DNV GL to assess the feasibility of transitioning its gas network from natural gas to renewable gases. The study will support SGI’s goals to decarbonize the delivery of energy to Italian homes and businesses through i