Monday 23, July 2018 by Kudakwashe

Kuwait Investment Authority's UK unit acquires NSMP for $1.7 billion


North Sea Midstream Partners (NSMP) is valued at between $1.6 billion to $1.7 billion.


Kuwait Investment Authority’s UK-based arm, Wren House, has agreed to buy oil and gas pipeline firm NSMP for around $1.7 billion from ArcLight Capital, reported Reuters.

Wren House won the bid against JP Morgan, Blackstone as well as private equity fund KKR, the London-based infrastructure investment arm was being advised by Jefferies and Macquarie Capital.

Additionally, the firm’s other investments in the United Kingdom include stakes in Associated British Ports, London City Airport and Thames Water.

NSMP owns a 67 per cent stake in the SIRGE pipeline and a 100 per cent interest in the FUKA pipeline which transports gas from the SIRGE pipeline and various fields in the northern and central North Sea.

NSMP also owns the St. Fergus Gas Terminal, Teesside Gas Processing Plant as well as Rhum gas field, in the North Sea.

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