Two large Canadian pension funds could be partnering to launch a bid for the National Grid’s UK gas distribution arm, according to a story in The Sunday Telegraph.
Ontario Teachers’ Pension Plan (OTPP and Borealis are understood to have held early talks about forming a consortium to table an offer.
It was widely reported in November 2015 that the utility company was planning to sell the business.
Both OTPP and Borealis bought distribution operations from National Grid in 2004.
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