Sources have revealed that the Abu Dhabi Investment Authority (ADIA) is working with the Canadian Pension Plan (CPP) to submit a joint offer for EDF's electricity distribution network.
ADIA, which is owned by the emirate, is one of the world's largest sovereign wealth funds although it has never published the value of its assets. Estimates range between $350bn (£219bn) and $650bn under management.
Bankers from Goldman Sachs and boutique advisory firm Lexicon Partners have been appointed to advise the consortium on its bid.
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