Abu Dhabi-Mubasher: Abu Dhabi Investment Authority (ADIA) agreed to buy 16.7% stake in Scotia Gas Networks Limited (SGN).

The sovereign wealth fund owned by the Emirate of Abu Dhabi will pay £621 million ($755.29m) in an all-cash deal, the Scottish energy company, said.an official press statement.

Horley-based SGN is a gas distribution company that manages and provides natural and green gas to about six million homes and businesses across Scotland and the south of England. SSE acquired it in 2005 for £505 million.