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UBS – Acquisition of gas business in Portugal

A UBS-managed infrastructure fund has acquired all shares in the Portuguese gas distribution business Gascan from Spanish private equity company Arta Capital for an enterprise value above EUR 100m. Gascan supplies propane gas to around 65,000 customers in Portugal through more than 1,500 tanks and 700km of pipes and is not financially regulated. Financial details of the transaction have not been disclosed.