Brookfield, Temasek Eye Gail's Pipeline Assets: Press

Canada’s Brookfield Asset Management and Singapore’s Temasek Holdings are in the race to buy Indian state-owned Gail’s gas pipeline assets, Mint reported September 8 citing sources.

Earlier this year Brookfield bought the gas pipeline assets of Reliance Industries. Gail owns more than two-thirds of India’s pipeline network and is the country’s biggest gas marketing and transportation firm.

Gail, which is in the process of divesting its pipeline business, has already received interest from state-run Indian Oil Corporation and Bharat Petroleum Corporation for the gas transmission assets, the newspaper reported.

The Indian government has been planning to split Gail by hiving off its gas marketing and pipeline business into a separate entity and selling a majority stake in it to strategic investors. The government holds 52.68% in Gail.