Marubeni Corporation has agreed to sell its 40% stake in Allgas Energy Pty Ltd, a gas distribution company in Australia, to Stonepeak Partners LP as part of its strategy to optimize capital allocation.

Information on the Target

Allgas Energy Pty Ltd ("Allgas"), based in Sydney, Australia, specializes in gas distribution services primarily in Queensland and New South Wales. The company operates a vital gas distribution network, serving areas such as southern Brisbane and the Gold Coast, and has played a significant role in the region's infrastructure since its establishment.

Marubeni Corporation, a diversified Japanese trading company, acquired a 40% stake in Allgas in December 2011. Since that time, Allgas has successfully expanded its operations to cater to the growing population demands, demonstrating stable growth and contributing to local economic activities and day-to-day life.

Industry Overview in Australia

The gas distribution industry in Australia is a crucial sector that significantly contributes to the country's energy landscape. Australia has extensive natur