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NGG National Grid Plc New

61.79
0.84 (1.38%)
20 Jul 2024 - Closed
Delayed by 15 minutes
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
  0.84 1.38% 61.79 61.82 60.66 61.16 1,411,108 01:00:00

UK Regulator Clears Acquisition of National Grid Stake by Consortium

23/11/2022 7:44am

Dow Jones News


National Grid (NYSE:NGG)
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From Jul 2022 to Jul 2024

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By Joe Hoppe

 

The U.K. competition regulator said Tuesday that it has cleared the acquisition of a 60% shareholding in the gas transmission and metering business of National Grid PLC by a consortium of investors.

The Competition and Markets Authority said it decided, based on the information currently available to it, not to refer the acquisition of part of the energy infrastructure group by Macquarie Infrastructure and Real Assets (Europe) Ltd. and British Columbia Investment Management Corp. to a Phase 2 investigation.

National Grid said in March that it would sell the stake in its U.K. gas-transmission business to the consortium for 2.2 billion pounds ($2.60 billion) in cash and GBP2.0 billion more in additional debt financing on completion.

The CMA had said it would examine the deal on Sept. 27.

 

Write to Joe Hoppe at joseph.hoppe@wsj.com

 

(END) Dow Jones Newswires

November 22, 2022 04:25 ET (09:25 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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