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National Grid PLC - manages the UK’s electricity infrastructure - UK Competition & Markets Authority decides not to refer investment consortium’s acquisition of a 60% shareholding in National Grid PLC’s gas transmission and metering business to a phase 2 investigation. Investment consortium includes Macquarie Infrastructure, Real Assets Ltd and British Columbia Investment Management Corp.
National Grid in March agreed to sell a 60% interest in its gas transmission and metering business in the UK to a consortium of ‘long-term infrastructure investors’ for £2.2 billion in cash. In September, UK CMA announced investigation into National Grid’s sale of a shareholding in its gas transmission and gas metering business. The CMA examined whether the deal would lead to a ‘substantial lessening of competition’ in the UK.
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