EON Asks for Bids in $3.8 Billion Gas Network Sale, Reuters Says

EON AG (EOAN) has at least five potential bidder groups for its gas distribution network and is asking them to indicate interest by Jan. 20, Reuters reported, citing an unidentified “senior” banker.

The Open Grid Europe asset, which may sell for about 3 billion euros ($3.8 billion), has attracted the interest of infrastructure funds including Macquarie, GS Infrastructure Partners and Borealis, plus parties from the energy industry, according to the banking official, Reuters said. Allianz SE (ALV) has teamed up with Canada’s CPP Investment Board to bid for the pipeline operator, Reuters said.

To contact the reporter on this story: Cornelius Rahn in Frankfurt at crahn2@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

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