UK competition regulator clears acquisition of a stake in Scotia Gas by OTPP and Brookfield

Britain’s competition regulator cleared Brookfield’s proposed acquisition of a minority stake in Scotia Gas Networks without referring the $1.7 billion deal to a lengthy investigation.

Britain’s SSE in August agreed to sell its entire 33.3% stake in Scotia Gas Networks to a Canadian consortium formed by Ontario Teachers’ Pension Plan Board and Brookfield Super-Core Infrastructure Partners.The deal does not merit a so-called Phase 2 investigation, the Competition and Markets Authority said.

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