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New Deal


Announced

Completed

OTPP and Brookfield completed the acquisition of a 50% stake in Scotia Gas Networks from ADIA and SSE for $2.6bn.

Financials

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Transaction Value£1,837m
Consideration TypeCash
Capital Owned-
Capital Bid For50%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

United Kingdom

gas distribution

Gas Distribution

Friendly

Private Equity

Private

Majority

Cross Border

Single Bidder

Completed

Synopsis

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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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