BG Group announced that it has signed a Sale and Purchase Agreement with Electricity First Limited, a wholly owned subsidiary of Cheung Kong Infrastructure Holdings Limited, for the sale of its 50% interest in Seabank Power Limited for a total consideration of £211.7 million (approximately $320 million).

Seabank Power Limited operates the 1 140 MW combined-cycle gas turbine (CCGT) Seabank power plant located near Bristol in the UK.

The transaction is expected to complete in second quarter 2010.