The acquisition makes SA's iGAS and CMG the majority shareholders, increasing their equity shares from 25% each to 40% each, while Sasol will still have a 20% minority shareholding.The Central Energy Fund announced that its subsidiary iGAS and Companhia Mocambicana de Gasoduto acquired a majority stake Republic of Mozambique Pipeline Company.
CEF Group CEO Ishmael Poolo said the acquisition was in line with the fund's strategy of penetrating the energy value chain to support the region's energy needs. The acquisition makes South Africa's iGAS and CMG the majority shareholders, increasing their equity shares from 25% each to 40% each, while Sasol will still have a 20% minority shareholding.
A statement released by the CEF on Wednesday said Rompco owns the 865km gas transmission pipeline from Mozambique to South Africa in a joint venture between Sasol, CMG and the South African Gas Development Company.