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Global Infrastructure Partners to Acquire a 25% interest in Scotia Gas Networks from OMERS.

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MANews-(C)2009-2021

US-based infrastructure investor Global Infrastructure Partners has inked an agreement to acquire a 25% equity interest in UK infrastructure asset Scotia Gas Networks from OMERS Infrastructure, the firm said.

The acquisition will be made through GIP's Separately Managed Account platform, leveraging GIP's significant experience in investing in core infrastructure.

SGN is a critical UK infrastructure asset which operates two gas distribution networks in Scotland and the Southeast of England.

The company is the second largest gas distribution network operator in the UK and supplies 6m customers across its service territory.

SGN is well positioned to play an essential role in the UK's decarbonization by supporting the transition from methane to renewable hydrogen sources and is committed to delivering on its low carbon ambitions, seeking to achieve net zero by 2045.

The transaction is expected to close in 1Q22, pending regulatory review and approvals.

SGN is the second largest gas DNO in the United Kingdom, having a regulated asset value of approximately GBP 6bn.

The company operates in Scotland and the Southeast of England, serving key cities such as

London, Edinburgh, Oxford, and Glasgow. The...

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