MONTREAL – La Caisse de depot et placement du Quebec has teamed up and arm of General Electric (NYSE:GE) to acquire a natural gas transmission and storage company in the United States.
Under the deal, the big Quebec pension fund manager and GE Energy Financial Services will jointly acquire Southern Star Central Corp. from Morgan Stanley Infrastructure. Financial terms of the deal were not disclosed.
Southern Star’s pipeline network extends over more than 9,300 kilometres across eight states, serving mainly the Kansas and Missouri markets.
“The investment is fully aligned with our infrastructure investment strategy because it will generate for la Caisse and its clients stable and predictable returns over the long term,” Macky Tall, senior vice-president, infrastructure, said in a statement announcing the deal.