Brookfield has bought the majority of New Zealand energy firm Clarus from Igneo Infrastructure Partners for NZ$2bn (€998m).
As part of the agreement, Clarus’s Firstgas gas transmission and distribution businesses, Rockgas LPG and the Flexgas underground gas storage businesses will be sold to funds controlled by Brookfield.
Igneo said it is also selling its interest in Firstlight Network to Powerco, an energy company. Igneo will retain its shareholding in the Tauhei Solar Farm.
Danny Latham, head of Igneo Australia and New Zealand, said: “Following a review of our broader portfolio and increased inbound interest in these assets, we decided to conduct a sale process and are pleased to reach this outcome today.
“We are proud of our achievements with the Clarus group, having taken it from the initial acquisition of the gas transmission and distribution businesses in 2016 to the multifaceted energy business it is today. We are confident that the businesses will continue their successes under their new ownership.”
Paul Goodeve, Clarus CEO, said: “We look forward to welcoming Brookfield as our new shareholder once all approvals have been confirmed. As a highly credible, long-term investor in essential infrastructure, we are confident they will be a strong owner for Clarus.”
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