Borealis Infrastructure, an international investor in large-scale infrastructure projects backed by OMERS, has announced that it has agreed to acquire a 24.15% stake in Compañia Logística de Hidrocarburos (CLH) from Cepsa and Global Infrastructure Partners. The transaction marks Borealis Infrastructure's first investment in Spain, and adds it to its European infrastructure portfolio which is already established in the UK, Germany, Sweden, Finland and the Czech Republic.

The acquisition of Cepsa's 9.15% stake was completed on January 11, and the acquisition of GIP's 15% stake is expected to close during the first quarter of 2016.

CLH is the leading company for refined oil products transportation and storage in Spain, where it owns and operates a network of over 4,000 km of pipelines and 40 storage facilities. The company also owns and operates the main fuel pipeline and storage network in the UK, with over 2,000 km and 16 storage facilities. 

BNP Paribas acted as sole financial advisor for Borealis Infrastructure, and Clifford Chance acted as legal advisor.

Ralph Berg, Global Head of Infrastructure OMERS Private Markets, said:

"On behalf of Borealis Infrastructure, we are very pleased to announce our investment in CLH, a high-quality, core infrastructure business that we expect will generate stable and consistent returns for the pension plan. We look forward to working together with the management team at CLH, and see this transaction as the beginning of a long-term partnership with existing shareholders."