[REUTERS / Yonhap]
SEOUL -- A consortium of South Korean securities firms has signed a deal to acquire a 39.24 percent stake in a major liquefied natural gas (LNG) terminal in the French port of Dunkirk.
The consortium consists of Samsung Securities, IBK Securities, Hanwha Investment Securities and Samsung Asset Management. Samsung Securities said Friday that deal signed was signed in Paris.
French electric utility company EDF and Totall, an energy group, have put their 75 percent joint stake in the terminal up for sale. The terminal, valued at $2.47 billion, is the second largest of its kind in Europe and accounts for 20 percent of LNG consumption in France and Belgium.
Samsung said Fluxys would acquire 35.76 percent. The Belgian transmission system operator has the right of its first refusal and could increase its stake to become a majority shareholder.
Samsung plans to supply its stake in the form of equity and loan funds in line with the investment needs of institutional investors, highlighting the stability of the terminal's infrastructure and the advantages of euro assets.
reporter
Lim Chang-won
cwlim34@ajunews.com
