Thursday, 19 November 2015

Brookfield Infrastructure Partners said to have hired bankers to sell International Energy Group

Apologies for the delayed posting Betavillers - I've got a bit of sore head as I was out hobnobbing with the great and the good of the British business world last night at a brilliant party.

Anyway, I'm sure you can read about that over the weekend. Back in the real world (or perhaps I should say Betaville world) I can "exclusively reveal" that I stumbled across this rather interesting little jackanory a few days ago.

I understand the company that supplies gas to Guernsey, Jersey and the Isle of Man - where many of Britain's wealthiest entrepreneurs, dealmakers and buy-out buccaneers choose to "live" - could be about to change hands for a few hundred million pounds.

Well-placed sources have informed me that International Energy Group has been put on the block by Brookfield Infrastructure Partners, which is listed in New York and Canada.

Whilst this might not necessarily be earth shattering news in the UK or the US I'm presuming this is potentially quite important for residents on the Channel Islands and the Isle of Man as International Energy Group claims to supply 40,000 people with natural gas.

Word is bankers over Barclays have been appointed to carry out the strategic review of International Energy Group, which I gather is likely to fetch between between £100 million and £200 million.

I asked Brookfield Infrastructure Partners for a comment on the sale of International Energy Group  but unsurprisingly the outfit "declined to comment".

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