Gasum on an Acquisition Spree
Finland-based integrated gas company Gasum takes steps forward in its growth strategy by acquiring AGA’s Clean Energy business and Nauticor’s Marine Bunkering business from Linde AG.
"These acquisitions will enhance the development of the Nordic gas market and create a platform for Gasum to provide a broader offering to meet the increasing demand for low-emission energy solutions from customers in industry, maritime and road transport," said a press note.
The transaction will improve access to competitive natural gas and biogas, multiply the available LNG logistics capacity and expand Gasum’s Nordic gas filling station network.
Gasum is acquiring AGA’s Clean Energy business and Nauticor’s Marine Bunkering business from their current owner, Linde AG. Together, the businesses employs 35 employees and generates annual revenues of more than EUR 100 million.
In the acquisition, several assets will be transferred to Gasum. These include an LNG liquefaction plant, two LNG terminals, two LNG bunkering vessels, and 48 gas filling stations in Sweden and Norway. The acquisition was signed on November 13, 2019. The transaction is subject to relevant approvals from competition authorities. The transaction is anticipated to be completed during 2020.
The acquisition will strengthen 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. In addition, the acquisition accelerates Gasum’s growth strategy for cleaner transport solutions in the Nordic heavy-duty vehicle market.
”The acquisition of AGA’s Clean Energy and Nauticor’s Marine Bunkering businesses is an integral part of our growth strategy. 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. We are very excited about this transaction which is important step for our company when building the Nordic gas ecosystem and answering the increasing demand for low-emission energy solutions from customers,” says Gasum CEO Johanna Lamminen.
The acquisition is part of Gasum’s strategy execution and further strengthens the company’s capacity to offer gas solutions for various customer segments in multiple locations.