GIP to acquire a 25% stake in Scotia Gas Networks from OMERS Infrastructure.

Global Infrastructure Partners, an infrastructure investment fund, agreed to acquire a 25% stake in Scotia Gas Networks, a British gas distribution company, from OMERS Infrastructure, an investor and asset manager. The transaction is expected to close in the first quarter of 2022, pending regulatory review and approvals. Financial terms were not disclosed. "GIP has deep experience and a strong track record of investing in and driving value from core utilities and natural gas infrastructure. We regard SGN as the premier gas DNO in the UK and a key player in the energy transition. The conversion of gas distribution networks into hydrogen ready infrastructure represents a unique opportunity to significantly grow the company while supporting the UK's net zero goals through the adoption of green hydrogen. We look forward to working with management and the company's other shareholders to help deliver on these growth ambitions and support its net zero strategy," Adebayo Ogunlesi, GIP Chairman and Managing Partner.