National Grid Sells Final Stake in Gas Transmission Unit
By Christian Moess Laursen
National Grid will sell its final 20% stake in National Gas to existing majority owners, a consortium led by Macquarie Asset Management.
The British energy infrastructure company said Friday that the terms of the deal are equivalent to the previous divestments struck for the unit. In January last year it sold a 60% stake to the consortium. National Grid didn't give financial details then.
It sold another 20% stake in July last year for around 700 million pounds ($899.6 million).
The deal, part of an option agreement, is set to complete by the first quarter next year.
National Gas is the company's U.K. gas transmission and metering business.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
July 26, 2024 06:36 ET (10:36 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Q4 Stock Market Outlook: Where We See Opportunities for Investors
-
Markets Brief: Non-Farm Payrolls in the Spotlight Again
-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
10 Top-Performing Dividend Stocks of Q3 2024
-
33 Undervalued Stocks
-
Communication Services: Cable’s Broadband Dominance Isn’t as Strong as It Once Was
-
Technology: Strength Continues, With Software Presenting the Best Buying Opportunities
-
Best- and Worst-Performing Stocks of Q3 2024
-
Top Stocks to Own From the Best Fund Managers
-
2 Cheap Stocks Top Managers Have Been Buying
-
The 10 Best Companies to Invest in Now
United States