UK Regulator to Examine Acquisition of National Grid Stake by Consortium
September 27 2022 - 2:58AM
Dow Jones News
By Joe Hoppe
The U.K. competition regulator said Tuesday that it is
considering whether the acquisition of a 60% shareholding in
National Grid PLC by Macquarie Infrastructure and Real Assets
(Europe) Ltd. and British Columbia Investment Management Corp.
could lessen competition.
The Competition and Markets Authority said it is considering
whether the acquisition of the stake in the energy-infrastructure
group, if carried out, will create a relevant merger situation, and
if so whether it will substantially lessen competition in the
U.K.
National Grid said in March that it will sell the stake in its
U.K. gas-transmission business to the consortium for 2.2 billion
pounds ($2.35 billion) in cash and GBP2.0 billion more in
additional debt financing on completion.
The CMA said it has a deadline of Nov. 22 for its Phase 1
decision, and that it has invited comments on the acquisition from
any interested party.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
September 27, 2022 02:43 ET (06:43 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
National Grid (NYSE:NGG)
Historical Stock Chart
From Jun 2024 to Jul 2024
National Grid (NYSE:NGG)
Historical Stock Chart
From Jul 2023 to Jul 2024