I Squared Capital has announced that a consortium of Japanese investors will become strategic minority shareholders in the Natural Gas Transition Platform, a Singapore-based holding company.
The platform has investments in Indian city gas-distribution networks that develop and operate compressed natural gas (CNG) stations for vehicles, pipe natural gas to homes and distribute piped natural gas (PNG) as well as LNG to industrial and commercial customers.
The Japanese investor consortium is composed of Osaka Gas, the second-largest city gas distributor in Japan, Sumitomo Corp., one of Japan’s largest trading houses, and the Japan Overseas Infrastructure Investment Corporation (JOIN), a government-sponsored entity that promotes Japanese investment abroad. The transaction will diversify the platform’s shareholder base and bring in additional long-term capital from the consortium members.
“We are very pleased to attract these long-term and experienced partners