In October 2009, EDF started a process to evaluate ownership options for its electricity distribution business in the UK. The move is in line with EDF Group’s plan to reduce its net financial debt by at least EUR5bn by the end of 2010. First round bids are expected in late March or April 2010.
Hong Kong-based Cheung Kong Infrastructure and National Grid have shown their interest in the power distribution business. A consortium of the Canada Pension Plan, the Abu Dhabi Investment Authority, and Australian investment bank Macquarie Group is also expected to bid for the business.
EDF Energy serves London, the South-East and East of England. It is also involved in unregulated networks businesses comprising the development, delivery and management of electrical and multi-utility networks for owners of major infrastructures.
