Abrdn has invested €60 million ($63 million), on behalf of its strategic partner Phoenix Group, in Societa Gasdotti Italia (SGI), the second-largest transmission system operator in Italy.
The SGI transport system is a set of high-pressure gas pipelines that run for about 1,800 kilometers (1,118 miles), of which about 400 kilometers (tk miles) are national networks, according to the company’s website.
The overall system is interconnected with natural-gas production plants, with storage owned by Edison Stoccaggio, with the network owned by Snam Rete Gas, and with small-scale networks owned by consortia for the industrial development of the areas of Frosinone, Venafro-Isernia and Termoli.
Abrdn joins Ontario Teachers’ Pension Plan and Swiss Life as refinancers of SGI. The funds will be used to refinance existing debt, extend the debt-maturity profile and support new investment efforts, including the replacement of existing infrastructure, extension of the pip