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.