OMERS still in the wings for TransGrid stake

17 April 2020 - 12:00 am UTC

Canadian pension fund OMERS is still interested in acquiring a 19.9% stake in Australian high voltage network TransGrid from Wren House Infrastructure, according to four sources familiar with the matter.

OMERS was named by local media last month as a bidder for the holding. This followed a decision by the other TransGrid shareholders to waive their pre-emptive rights. CDPQ, the Utilities Trust of Australia, managed by Morrison & Co., and ASX-listed Spark Infrastructure are the other shareholders.

At least two of the investors were keen to increase their stake, but the COVID-19 related ructions in capital markets and concerns over liquidity meant they couldn’t proceed. 

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