Finnish Gasum Closes Linde Deals
Finnish state utility Gasum closed April 30 its acquisition of German engineering firm Linde's LNG and biogas business in Sweden and Norway and its marine bunkering business Nauticor in Germany. Combined revenue is typically above €100 (US$109)mn/yr
The deal was announced last November and is "an integral part of Gasum’s strategy execution to accelerate growth for cleaner transport solutions across the Nordics. Along with the acquisition, the company further strengthens its capacity to offer a broad range of gas solutions for various customer segments in multiple locations," it said.
The transaction strengthens Gasum’s strategy by developing the Nordic gas market and creating a platform for a broader offering to its customers in the maritime, industry and road transport segments. The acquisition also accelerates Gasum’s growth strategy for cleaner transport solutions in the Nordic heavy-duty vehicle market.
”The acquisition enables Gasum to supply and to ensure the availability of a competitive, low-emission form of energy to meet the demands of industrial, maritime and road transport customers in the Nordic countries,” said CEO Johanna Lamminen.
The assets include LNG terminals in Sweden and Norway, two bunkering vessels, Seagas and Kairos (pictured above) and 48 gas filling stations in Sweden and Norway. German utility Uniper, now owned by the other Finnish state utility Fortum, is also active in the LNG vehicle fuelling station sector.