The infrastructure arm of Singaporean conglomerate Keppel Corporation has marked its entry into Europe’s energy market by investing €53m in a Swiss-based energy firm.
Keppel Infrastructure is investing the capital for a 20% stake in MET Group, the companies said in a joint statement.
The companies have also entered into a partnership to jointly explore investment opportunities focussing on European energy infrastructure assets.
MET Group, which has a presence across 15 European countries, has businesses in natural gas, power and oil markets, focussed on multi-commodity wholesale, trading and sales, as well as energy infrastructure and industrial assets.
Ong Tiong Guan, CEO of Keppel Infrastructure said: “Our strategic investment in MET Group represents our first step into the dynamic European energy market. MET’s integrated strategy across the energy value chain is aligned with Keppel Infrastructure’s strategy.
“Through this, we will not only gain exposure to the growing energy platforms that MET Group is active in, but we will also be able to leverage their presence to jointly explore energy infrastructure investment projects in the region.”
MET Group CEO Benjamin Lakatos, said: “With this transaction, we aim to jointly execute MET Group’s strategy to be a leading player in the consolidation of the European energy market and to pursue opportunities together.”