A public consortium comprising CNP Assurances, CDC Infrastructure and France-based Caisse des Dépôts et Consignations has finalized the creation of GDF Suez, a long-term cooperative venture in the natural gas transportation industry in France and Europe. The consortium also announced that it acquired a 25 percent stake in the Paris-based natural gas infrastructure company GRTgaz for €1.1 billion ($1.57 billion).

The consortium’s backing will allow GRTgaz to expand its business beyond France by acquiring GDF Suez’s stakes in other European natural gas transportation companies, which include GRTgaz Deutschland GmbH, MEGAL GmbH in Germany and BOG GmbH in Austri