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Gasum on an Acquisition Spree
Finland-based integrated gas company Gasum takes steps forward in
its growth strategy by acquiring AGA's Clean Energy business and
Nauticor's Marine Bunkering business from Linde AG.
"These acquisitions will enhance the development of the Nordic
gas market and create a platform for Gasum to provide a broader
offering to meet the increasing demand for low-emission energy
solutions from customers in industry, maritime and road
transport," said a press note.
The transaction will improve access to competitive natural gas
and biogas, multiply the available LNG logistics capacity and
expand Gasum's Nordic gas filling station network.
Gasum is acquiring AGA's Clean Energy business and Nauticor's
Marine Bunkering business from their current owner, Linde AG.
Together, the businesses employs 35 employees and generates
annual revenues of more than EUR 100 million.
In the acquisition, several assets will be transferred to Gasum.
These include an LNG liquefaction plant, two LNG terminals, two
LNG bunkering vessels, and 48 gas filling stations in Sweden and
Norway. The acquisition was signed on November 13, 2019. The
transaction is subject to relevant approvals from competition
authorities. The transaction is anticipated to be completed
during 2020.
The acquisition will strengthen Gasum's strategy by developing
the Nordic gas market and creating a platform for a broader
offering to its customers in the maritime, industry and road
transport segments. In addition, the acquisition accelerates
Gasum's growth strategy for cleaner transport solutions in the
Nordic heavy-duty vehicle market.
"The acquisition of AGA's Clean Energy and Nauticor's Marine
Bunkering businesses is an integral part of our growth strategy.
The acquisition enables Gasum to supply and to ensure the
availability of a competitive, low-emission form of energy to
meet the demands of industrial, maritime and road transport
customers in the Nordic countries. We are very excited about this
transaction which is important step for our company when building
the Nordic gas ecosystem and answering the increasing demand for
low-emission energy solutions from customers," says Gasum CEO
Johanna Lamminen.
The acquisition is part of Gasum's strategy execution and further
strengthens the company's capacity to offer gas solutions for
various customer segments in multiple locations.
Nov 13, 2019
