26th Sep 2024 12:23
National Grid PLC - London-based electricity infrastructure operator - Completes sale of final 20% equity stake in National Gas, the operator of the UK's gas transmission network, to a consortium led by Macquarie Asset Management Holdings Pty Ltd, part of Australia's Macquarie Group Ltd. The Macquarie-led investors bought an 80% stake in National Gas in two tranches last year, and the agreement to buy the remaining 20% on the same terms was announced at the end of July this year. The total value of the deal for 100% of National Gas was about GBP3.6 billion. National Grid said the disposal was part of its strategy to pivot towards electricity and followed its 2021 acquisition of Western Power Distribution for GBP7.8 billion. Read More
