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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
International Public Partnerships Ld | LSE:INPP | London | Ordinary Share | GB00B188SR50 | ORD 0.01P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.60 | -1.27% | 124.00 | 123.80 | 124.40 | 125.00 | 123.60 | 125.00 | 4,133,617 | 16:35:17 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Unit Inv Tr, Closed-end Mgmt | 370.13M | 326.9M | 0.1916 | 6.49 | 2.12B |
By Ian Walker
LONDON--National Grid PLC (NGG) said Thursday it is selling 61% of its interest in its U.K. gas distribution business to a consortium of long-term infrastructure investors in a deal that values the unit at about 13.8 billion pounds ($17.45 billion), and will return GBP4 billion of the proceeds to shareholders.
The utility firm, which announced November last year that it was selling the unit, will get GBP3.6 billion in cash from the consortium on completion and will own a 39% minority equity interest in a new holding company. In addition, it will get GBP1.8 billion from additional debt financing.
The consortium buying the business comprises Macquarie Infrastructure and Real Assets, Allianz Capital Partners, Hermes Investment Management, CIC Capital Corporation, Qatar Investment Authority, Dalmore Capital and Amber Infrastructure Ltd./International Public Partnerships Ltd. (INPP.LN).
National Grid said it expects that the deal to complete on or before March 31, 2017.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
December 08, 2016 02:48 ET (07:48 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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