BG Group Could Finalise $4 bn Australian Gas Pipeline Sale by Year End

BG Group is likely to finalise $4 billion sale of its gas pipeline in Australia's Queensland state by Christmas, a source close to the deal told news agency Reuters.

End of November is the deadline for bidders to put in final offers for 335 miles of pipeline, the source told the news agency on Wednesday.

Potential bidders could be Hong Kong's Cheung Kong Infrastructure Holdings Ltd, Australian Pipeline Ltd in a consortium with Japan's Marubeni Corp, Reuters said. Queensland Investment Corp (QIC) and pension fund IMF are expected to lodge a joint bid, as is Australian fund manager AMP Ltd.

Goldman Sachs is running the BG pipeline sale, as well as the sale of two NSW government power stations, one gas-fired and one coal-fired, known as Delta Coastal, also expected to be finalised by Christmas, the source told Reuters..