OMERS Infrastructure has signed an agreement to sell a 25 percent interest in Scotia Gas Networks (SGN) to Global Infrastructure Partners.
SGN is the second-largest gas distribution network in the United Kingdom, operating Scotland Gas Networks plc and Southern Gas Networks plc, two of eight regulated gas distribution networks in England, Wales and Scotland, under a license from Ofgem to distribute gas through its infrastructure network. SGN serves nearly 6 million homes and businesses.
“SGN was our first infrastructure investment in Europe, and we are very pleased with the company’s 17-year track record of successful value creation for both customers and investors. We first invested in SGN at its creation in 2005, and it is now the United Kingdom’s leading gas distribution company across key operational and customer metrics. Over this period, we have supported significant regulated capital investment programs, the development of several commercial businesses, an
