Kuwait fund in major North Sea investment
Kuwait 
LONDON, July 24, 2018 – Wren House, a subsidiary of Kuwait’s sovereign wealth fund, has agreed to buy North Sea Midstream Partners and its energy infrastructure assets for around USD 1.7 billion, international media reported on Monday.
“Wren House was bidding against some very big players and they simply offered the best terms,” an anonymous source told Reuters.
Kuwait’s sovereign wealth fund, while confirming the deal, did not disclose its price tag. The estimate provided to the agency by two separate sources is based on market valuations, the report added.
North Sea Midstream Partners operates a number of pipelines in the North Sea, including the SIRGE gas pipeline, and owns stakes in a number of other important assets including London City Airport, Associated British Ports and Thames Water.
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