AGL 40.40 Increased By ▲ 0.20 (0.5%)
AIRLINK 129.34 Increased By ▲ 0.23 (0.18%)
BOP 6.35 Decreased By ▼ -0.25 (-3.79%)
CNERGY 4.15 Increased By ▲ 0.12 (2.98%)
DCL 8.77 Increased By ▲ 0.32 (3.79%)
DFML 42.30 Increased By ▲ 1.05 (2.55%)
DGKC 87.80 Increased By ▲ 0.80 (0.92%)
FCCL 33.63 Increased By ▲ 0.28 (0.84%)
FFBL 66.15 Increased By ▲ 0.25 (0.38%)
FFL 10.70 Increased By ▲ 0.16 (1.52%)
HUBC 112.90 Increased By ▲ 2.20 (1.99%)
HUMNL 15.85 Increased By ▲ 0.62 (4.07%)
KEL 4.80 Increased By ▲ 0.02 (0.42%)
KOSM 7.97 Increased By ▲ 0.14 (1.79%)
MLCF 42.12 Increased By ▲ 0.22 (0.53%)
NBP 60.95 Increased By ▲ 0.45 (0.74%)
OGDC 189.65 Increased By ▲ 6.85 (3.75%)
PAEL 25.60 Increased By ▲ 0.24 (0.95%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 149.01 Increased By ▲ 1.20 (0.81%)
PRL 25.25 Increased By ▲ 0.69 (2.81%)
PTC 16.40 Increased By ▲ 0.16 (0.99%)
SEARL 70.56 Increased By ▲ 0.06 (0.09%)
TELE 7.36 Increased By ▲ 0.06 (0.82%)
TOMCL 36.15 Decreased By ▼ -0.15 (-0.41%)
TPLP 8.07 Increased By ▲ 0.22 (2.8%)
TREET 16.39 Increased By ▲ 1.09 (7.12%)
TRG 51.42 Decreased By ▼ -0.28 (-0.54%)
UNITY 27.31 Decreased By ▼ -0.04 (-0.15%)
WTL 1.27 Increased By ▲ 0.04 (3.25%)
BR100 9,932 Increased By 90.6 (0.92%)
BR30 30,482 Increased By 445.5 (1.48%)
KSE100 93,237 Increased By 716.8 (0.77%)
KSE30 28,973 Increased By 186.3 (0.65%)

An Abu Dhabi sovereign wealth fund is planning a joint bid for EDF's electricity distribution network in the UK, the Sunday Telegraph reported. Abu Dhabi Investment Authority is working with the Canadian Pension Plan on a 5 billion pound ($8 billion) bid for the business, which distributes power in London and the south-east of England, the paper said, without naming sources.
It said Goldman Sachs and Lexicon Partners had been appointed to advise the consortium. EDF is one of a number of European utilities that have announced planned asset sales to cut debt, and has said it hopes to get more than 4 billion pounds for its British distribution business by the first quarter of 2010.
Other parties that have expressed an interest in the business include Scottish and Southern Energy, National Grid and Hong Kong's Cheung Kong Infrastructure Holdings. ADIA could not immediately be reached for comment.

Copyright Reuters, 2009

Comments

Comments are closed.