Announced
Completed
Financials
Tags
Acquisition
United Kingdom
gas distribution
Gas Distribution
Friendly
Private Equity
Private
Majority
Cross Border
Single Bidder
Completed
Synopsis
Investment companies Ontario Teachers’ Pension Plan Board and Brookfield completed the acquisition of a 50% stake in Scotia Gas Networks, a British gas distribution company which manages the network that distributes natural and green gas, from Abu Dhabi Investment Authority, a sovereign wealth fund, and SSE, a multinational energy company, for $2.6bn. "SGN has been a hugely successful investment for SSE and is a strong business, but it had become purely a financial investment for SSE and we wish the team every success in the future. For SSE the sale has sharpened our focus on our low-carbon electricity core, leaving us fully focused on delivering our Net Zero Acceleration Programme," Gregor Alexander, SSE Finance Director.
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