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Switzerland's Axpo withdrawing from TAP project, selling stake to other shareholders for 210 mln euros
BAKU. Jan 27 (Interfax-Ukraine) – Swiss energy holding Axpo has reached an agreement to sell its stake in pipeline company Trans Adriatic Pipeline AG, the operator of the Trans Adriatic Pipeline (TAP), a component of the Southern Gas Corridor, to Belgium’s Fluxys and Spain’s Enagas SA.
"Under the sale and purchase agreement, Belgium’s Fluxys will acquire 1% and Spain’s Enagas 4% of Axpo’s 5% equity stake. Both companies will thus reach 20% ownership of TAP," Axpo said in a statement on its website.
The value of the deal is 210 million euros.
"The transaction is subject to customary conditions, and closing is expected in the second half of 2023," Axpo said.
