A CONSORTIUM led by Challenger Infrastructure Fund has bought British gas transporter Inexus Group Holdings Ltd for £465 million ($A1.11 billion). Inexus is the UKs largest independent gas transporter in the UK and has a 47% share of all existing connections.
Challenger Infrastructure Fund will hold 80% of the consortium. Entities managed by Colonial First State Global Asset Management will hold 13%, and Inexus management will hold the remaining 7%.
Challenger Infrastructure Fund said Inexus offered regulated stable pricing for the bulk of revenue, annual revenue growth of 17%, strong operating cashflows and a strong management team with a proven track record.
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