As it was perceived, an unexpected GBP4bn ($6.6bn) auction of EDF’s UK arm has grabbed attention from a lot of business tycoons, pension funds and utility groups. EDF, supplying nearly to eight million homes in east and south-east England, has appointed Deutsch Bank and Barclays to facilitate the transaction. This sudden auction is happening because EDF is looking to reduce the debt after its acquisition of nuclear power firm ‘British energy’.
Some of the business giants including Abu Dhabi Investment Authority, Cheung Kong Infrastructure (owned by Li Ka-shing, Asia’s richest man), and three Canadian pension funds – Borealis, Ontario Teachers, and Canadian Pension Plan are rumoured to be in the line of bidding for the power company. Also, utility companies including Scottish & Southern, National Grid, investment group GIP and Morgan Stanley Infrastructure are also said to be showing interest.
