Thyssengas, one of the largest German gas Transmission System Operators based in Dortmund, annually transports around six billion cubic metres of natural gas – one-tenth of Germany’s entire consumption. The gas is delivered to more than 1,000 exit points leading to subsequent networks, industrial customers and power stations.

DIF is a leading global independent fund manager, with more than €9 billion in assets under management, investing in greenfield and operational infrastructure assets located primarily in Europe, the Americas, and Australasia through two complementary strategies.

Reed Smith’s Global Corporate Group partner Martin Bünning and senior associate Carina Park advised DIF on the tax aspects of the preparation and the structuring of the transaction and certain specific domestic and cross border tax aspects.

Bünning, who is based in the firm’s Frankfurt office, said: “We are delighted to have advised DIF on this significant transaction and look forward to continue working with them in the future.”

The transaction is expected to be finalised in Q1 2022, subject to customary merger control clearance and foreign investment approval requirements.