LONDON, June 17 (Reuters) - British oil and gas company BG Group has sold its majority stake in one of Britain’s biggest gas pipelines to Antin Infrastructure Partners for up to 562 million pounds ($944 million), the firm said on Tuesday.
BG said it expected the transaction to result in a post-tax profit of around $700 million and that it would retain its rights to access gas transport capacity on the CATS pipeline.
The deal includes the 404-kilometre-long subsea pipeline, which connects a number of North Sea fields to the British mainland, a platform linked to the Everest oil and gas platform and an onshore gas processing terminal at Teesside.
The deal is expected to close in the second half of the year.
$1 = 0.5956 British Pounds Reporting by Karolin Schaps; editing by Jason Neely