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

LONDON (Reuters) – Britain’s competition regulator cleared Brookfield’s proposed acquisition of a minority stake in Scotia Gas Networks (SGN) 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 (SGN) to a Canadian consortium formed by Ontario Teachers’ Pension Plan Board and Brookfield Super-Core Infrastructure Partners.

SGN supplies gas in England, Wales, Scotland and the west of Northern Ireland.

The deal does not merit a so-called Phase 2 investigation, the Competition and Markets Authority (CMA) said.

(Reporting by Andres Gonzalez, Editing by Louise Heavens)