We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
National Grid Plc New | NYSE:NGG | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 57.66 | 0 | 01:00:00 |
By Joe Hoppe
National Grid said Wednesday that it has agreed to sell a further 20% interest in its U.K. gas transmission business National Gas to the existing majority owners, for total proceeds of around 700 million pounds ($912.5 million).
The U.K. electricity-transmission network operator said it sold the stake to a consortium of long-term infrastructure investors led by Macquarie Asset Management, on equivalent financial terms to the original 60% transaction, completed in January.
The sale is expected to complete in the second half of 2023, subject to regulatory conditions.
The company has further agreed on a new option to sell the remaining stake, with the consortium able to exercise the right to buy all or part of the last 20% on the same terms as the original transaction between the beginning of May and the end of July 2024.
Following sale completion, National Grid said it intends to use total proceeds of around GBP700 million toward general corporate purposes including repaying debt.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
July 19, 2023 02:49 ET (06:49 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
1 Year National Grid Chart |
1 Month National Grid Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions