French state bank Caisse des Depots (CDC) has teamed up with Abu Dhabi investment fund ADIA ADIAIN.UL to form a powerful consortium to bid for Total's (TOTF.PA) TIGF gas network business, sources said.
The move increases pressure on rival contenders for TIGF, which sources say is worth 2.5 billion euros (1.98 billion pounds), as a late-January deadline for final bids approaches, people familiar with the situation told Reuters.
Electricite de France (EDF.PA) - through its nuclear fund - and Spanish utility Enagas (ENAG.MC) are also bidding for the gas network and storage business based in southwest France.
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