EQT, a Swedish private equity company was said to have hired Morgan Stanley for the sale of Swedegas. The latter is a gas grid operator and was owned by EQT since early 2010. The deal was priced more than Eur500 million according to two sources that were familiar with the sale said on Friday.

The sources refused to be identified as the matter was held private. Another source said that EQT had appointed Vinge, a Swedish law firm, to be the legal adviser for the deal.

Private equity EQT owned Swedegas through its first infrastructure fund that closed last 2008 with Eur1.2 billion in capital. Last January, EQT closed its second infrastructure with a Eur1.9 billion capital.

Swedegas bought E.ON's high pressure gas pipelines in southern Sweden. This made the company took control of all natural gas grid in Sweden with 620 km of pipelines in the southern and western part of the country.  

Representatives for EQT refused to give statements regarding the said report. Morgan Stanley's spokesperson declined to give comments as well as Vinge representatives.