Macquarie eyes up electricity network

AUSTRALIAN investment bank Macquarie is understood to have teamed up with the Canadian Pension Plan and the Abu Dhabi Investment Authority to bid for an electricity network.

The consortium is believed to be working on a 4 billion bid for a network – owned by French utility EDF – that distributes power to millions of homes in the south of England.

Goldman Sachs and Lexicon Partners are thought to be advising the consortium.