CEPS buys Czech gas pipeline operator NET4GAS for up to CZK 5 billion

State-owned company CEPS has bought NET4GAS Holdings, which operates an extensive system of gas pipelines and delivery stations in Czechia. It will pay up to CZK 5 billion for the indebted company, although the final sum will depend on its financial performance and whether it meets the agreed economic targets. CEPS announced the deal today. The acquisition, approved by the government on Wednesday, is still subject to review by the regulatory authorities.

NET4GAS operates 4,000 kilometres of gas pipelines, five compressor stations and around 100 delivery stations, including three at the borders. NET4GAS Holdings is owned in equal shares by a consortium of Allianz Infrastructure Luxembourg and Borealis Novus Parent. CEPS is buying the company using its own available funds. It will take over the entire company, including its management and employees.

„The agreed purchase price consists of two parts: the first, amounting to CZK 3 billion, will be paid when the transaction is completed. CEPS will pay the second part if NET4GAS meets the economic performance targets, in two instalments of up to CZK 2 billion in total,“ said CEPS Chairman of the Board Martin Durčák.