CEF subsidiary's acquisition of Moz gas group hailed as a win for low-carbon energy | Fin24

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.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MONEY LIVE | Sun International’s earnings jump as its Covid-19 rebound continues | Fin24MONEY LIVE | Sun International’s earnings jump as its Covid-19 rebound continues - Being the head of the home isn't easy, you are expected to provide for the home, I lost my job during the pandemic and relied on the little money I had,things were hard until I met Allison_Grillo and started Bitcoin trading, I earned R150,000 in 3 weeks thanks Allison_Grillo.
Source: Fin24 - 🏆 21. / 63 Read more »