Global firm acquires 30 percent stake in Turkish natural gas company

Global firm acquires 30 percent stake in Turkish natural gas company

ISTANBUL
Global firm acquires 30 percent stake in Turkish natural gas company

Enerya owns and operates 11 natural gas distribution companies in western and central Turkey.

The Partners Group, a global private markets investment manager, has announced the acquisition of a 30 percent stake in Turkish natural gas distributor Enerya on behalf of its clients.

The stake was acquired from Enerya’s parent company, Turkey’s STFA Group, which will continue to hold the remaining equity, the Partners Group said, adding that the company would be governed on a joint venture basis.

Enerya owns and operates 11 natural gas distribution companies in different regions in western and central Turkey, each with exclusive 30-year concession rights in their respective region, giving it one of the largest and most diversified natural gas distribution portfolios in Turkey.

The company is expected to handle a total volume of around 2.8 billion cubic meters of natural gas annually across its various business lines by the end of 2014 and to reach 800,000 subscribers within the same timeframe.

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