The Ontario Municipal Employees Retirement System (OMERS) this week bought a large stake in Compania Logistica de Hidrocarburos (CLS), Spain’s largest oil storage and pipeline operator.
Borealis Infrastructure, OMERS’ infrastructure investment arm, made the purchase. It was the BI’s first investment in Spain.
More from the Vancouver Sun:
Borealis Infrastructure — part of the OMERS pension system — is acquiring a 9.15 per cent stake in Compania Logistica de Hidrocarburos, or CLH, from Cepsa and a 15 per cent stake from Global Infrastructure Partners.
Financial terms of the two deals were not immediately available.
CLH, Borealis Infrastructure’s first investment in Spain, expands the pension fund manager’s European infrastructure portfolio which already includes investments in the United Kingdom, Germany, Sweden, Finland and the Czech Republic.
CLH has 40 storage facilities and 4,000 kilometres of pipelines in Spain. The company also has 16 storage facilities and more than 2,000 km of pipelines in the United Kingdom.
OMERS managed $69.8 billion (CAD) in assets as of December 2014.
Photo by ezioman via Flickr CC License
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