SSE looks to sell stake in regional gas distribution network: Reuters

Britain's second-biggest energy supplier, SSE, is considering selling up to a third of its 50 percent stake in regional gas distribution business SGN to raise cash for shareholders or to reinvest, Reuters reported. SSE could raise around 1 billion pounds (US$1.4 billion) from its sale, based on a 20 percent premium to the regulated asset base value of SGN, analysts at Jefferies said. SGN is co-owned by two Canadian pension fund investors: Ontario Teachers' Pension Plan and Ontario Municipal Employees Retirement System (OMERS). OMERS invested via Borealis Infrastructure.

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