Uniper completed the acquisition of 48.2% stake in OLT to First State Investments for €400m.

Uniper, an energy company based in Düsseldorf completed the acquisition of a 48.2% stake in OLT Offshore Toscana to First State Investments, the investment management branch of the Commonwealth Bank of Australia, for €400m. The target company owns a terminal, permanently moored about 22 km off the Italian coast between Livorno and Pisa, that transforms the liquefied natural gas, received by LNG carriers, back to its normal gaseous state. “We’re pleased to divest our stake in OLT Offshore LNG Toscana to an experienced gas infrastructure investor like First State Investments. We’ve always said that selected existing gas infrastructure investments which we consider as strategic non-core assets may be suitable for portfolio rotation," Eckhardt Rümmler, Uniper COO.