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A consortium of investors including Borealis Infrastructure, Wren House, part of Kuwait’s sovereign wealth fund and the Universities Superannuation Scheme is preparing a bid for a majority stake in National Grid’s gas distribution businesses, according to a report in the Sunday Times.
The newspaper reported that the consortium has hired Rothschild and Citi to advise on the deal.
It said that the consortium behind the Thames Tideway supersewer, which includes Allianz, Dalmore Capital, DIF, Amber Infrastructure and Swiss Life Asset Managers, is also considering a bid.
Ofgem is currently consulting on the sale of the majority stake in National Grid’s four gas distribution businesses. The auction, which is due to start in spring, was announced last year.
Read Utility Week’s analysis of the valuation of gas distribution companies here
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