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Haddington Ventures to Buy Continental Gas Storage
Haddington Ventures has entered an exclusive agreement with Continental Gas Storage BV (CGS) to purchase that company’s wholly owned subsidiary, Continental Gas Storage Deutschland GmbH (CGSD), through Haddington Energy Partners IV LP, a private equity fund managed by Haddington.
The proposed transaction is subject to further due diligence by Haddington and is expected to close by midyear 2011. Once closed, the transaction will enable the continued development and construction of CGS’s Epe Underground Natural Gas Storage project, located in Germany.
The fund generally makes control-oriented investments in companies focused on gathering, separation, processing, treatment, compression, storage and transmission of oil and natural gas.
Haddington is a leading private equity firm, active in the midstream energy business sector.