14th Jun 2021 12:49
National Grid PLC - London-headquartered electricity and gas network operator - Completes acquisition of PPL WPD Investments Ltd, the holding company of Western Power Distribution, the UK's largest electricity distribution business, from PPL WPD Ltd, a subsidiary of PPL Corp. "Following National Grid's voluntary notification of the WPD acquisition to the Competition & Markets Authority, the CMA is undertaking its merger review which has not yet concluded. As a result, and as is customary in such circumstances, the CMA has issued an initial enforcement order, requiring the WPD Group to continue to be run independently from National Grid and under its existing management until the CMA review has completed," National Grid notes.
The UK CMA issued the order last week. The GBP7.8 billion deal for Western Power from US energy firm PPL was agreed in March.
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By Lucy Heming;Â [email protected]
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