22nd Feb 2016 06:47
LONDON (Alliance News) - A group of large overseas investors have teamed up to make a bid for a controlling stake in National Grid PLC's GBP11.0 billion gas pipeline arm, The Sunday Times reported.
National Grid, the power grid operator, said last year it will sell up to 80% of its gas distribution unit in order to focus on building up the UK's electricity grid.
The auction is not set to start until the spring, but suitors are already positioning themselves to get involved, including Canada's Borealis Infrastructure, Wren House, part of the Kuwait sovereign wealth fund, and the Universities Superannuation Scheme, according to The Sunday Times.
http://www.thesundaytimes.co.uk/sto/business/article1670229.ece?CMP=OTH-gnws-standard-2016_02_20
By Sam Unsted; [email protected]; @SamUAtAlliance
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