Canada Pension Plan Investment Board, Toronto, and the Abu Dhabi Investment Authority are part of a consortium that will acquire a 24.1% stake in the Norwegian energy joint venture from Norwegian oil and gas company Statoil, confirmed May Chong, spokeswoman for the C$148.2 billion (US$151.3 billion) fund.
The transaction is valued at C$3.18 billion. Statoil’s Gassled Joint Venture is a joint venture among oil and gas companies exploring energy opportunities on the Norwegian continental shelf.
Solveig Gas Norway AS, the consortium’s holding company, is 45% owned by CPPIB, 30% by Allianz Capital Partners GmbH and 25% by Infinity Investments, a wholly owned subsidiary of the $627 billion Abu Dhabi Investment Authority.
CPPIB’s infrastructure portfolio was valued at C$9.5 billion as of March 31, Ms. Chong said in a telephone interview.