China’s SAFE, ADIA, CPPIB and Others Bid for Madrilena Red de Gas

Sovereign wealth funds, pension funds and other institutional investors are circling around a Spanish energy infrastructure asset. Madrileña Red de Gas, a Spanish natural gas distributor which is majority-owned by Morgan Stanley’s infrastructure unit, has three bidding groups left in the running. Some of these institutional investors include Abu Dhabi Investment Authority, CPPIB and SAFE Investment Company. Morgan Stanley shelved plans to have an initial public offering for the asset – instead favoring selling the asset.

Citigroup is assisting the sale.

Madrileña Red de Gas posted €180.8 million in revenue for 2014. In 2010, Madrileña Red de Gas was sold to Lisbon-based Galp Energia and Morgan Stanley for €800 million. Energy regulators forced the sale.

Bidding Groups for Madrileña Red de Gas

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