Reuters: Private Equity: RLPC-Four groups left on E.ON's gas network sale

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RLPC-Four groups left on E.ON's gas network sale May 3rd 2012, 17:21 By Tessa Walsh and Alasdair Reilly LONDON | Thu May 3, 2012 1:21pm EDT LONDON May 3 (Reuters) - Final bids are due on May 9 for E.ON's 3 billion euro ($3.95 billion) sale of its open gas distribution network after bidders complete due diligence checks, banking sources said on Thursday. The sale, which is expected to be backed by a debt financing of around 2 billion euros, is expected to be announced in mid May. Competition for the asset has been stiff and all four consortia which were short-listed in mid February are still in the running, the bankers said The remaining bidders include a consortium of GRTGas, which is a subsidiary of GDF Suez, French insurer CNP Assurances and IFM Australian Infrastructure Fund. A group of Belgium's Fluxys, Global Infrastructure Partners and, according to one source, Caisse de depot et placement du Quebec is still involved. A third consortium consists of German insurer Allianz , Canadian Pension Plan (CPP) and Dutch gas network operator Gasunie. The last group includes Australia's Macquarie, Abu Dhabi Investment Authority, Canada's British Columbia Investment Management Corp (bcIMC) and Munich Re. ($1 = 0.7603 euros) (Reporting by Tessa Walsh; Editing by Erica Billingham) Link this Share this Digg this Email Reprints

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