16th Mar 2005 12:09
BG GROUP plc16 March 2005 Media Information 16 March 2005 BG and Keyspan to sell Premier Transmission Limited BG Energy Holdings, a wholly owned subsidiary of BG Group, and its partnerKeyspan have signed a Sale and Purchase Agreement committing each of them tosell their respective 50% interests in the share capital of Premier TransmissionLimited ("PTL") to Premier Transmission Financing plc ("PT Finance"). PTL's onlyasset is a gas pipeline between Scotland and Northern Ireland. The consideration payable for BG Group's 50% equity interest will beapproximately £22 million in cash, but this amount is subject to certainadjustments for working capital and the timing of the completion. The transaction is subject to the purchaser, Premier Transmission Financing plc,completing a fund raising exercise, which BG is advised by PT Finance isanticipated to be finalised by 18 March 2005. When completed, the sale of PTLwill have a negligible effect on BG Group's UK business. There are matters discussed in this media information that are forward looking statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to the Company's annual report and accounts for the year ended 31 December 2003. Notes to Editors:BG Group plc is a global natural gas business. Active on five continents in over20 countries, it operates four business segments - Exploration and Production,LNG, Transmission and Distribution and Power. Enquiries: Communications Chris Carter +44 (0) 118 929 3717Out of hours media mobile: +44 (0) 791 718 5707Investor Relations Chris Lloyd/Helen Parris/ Kate Bingham +44 (0) 118 929 3025Website: www.bg-group.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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