Macquarie European Infrastructure Fund 5 (MEIF5), which is managed by Macquarie Infrastructure and Real Assets (MIRA), has entered into binding agreements to acquire a 20 per cent stake in Compañia Logistica de Hidrocarburos (CLH), owner and operator of the largest refined oil pipeline network and oil storage capacity in Spain.
CLH owns and operates approximately 92% of Spain’s refined products pipeline network (c. 4,020km in length) and 54% of Spain’s oil storage capacity (over 8 million cubic metres across 40 storage facilities). In addition to these core activities, CLH is also active in the UK (approximately 2,000km of pipeline and 1 million cubic metres of storage capacity across 16 facilities) and Ireland (fuel storage terminal at Dublin Airport)
MEIF5 is acquiring the 20% stake in CLH from AMP Capital (10%) and Oman Oil Company SAOC (10%).
Completion of the acquisition is expected by the end of June 2017.