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INPP consortium to take 61% stake in GDN

08 December 2016 09:38

International Public Partnerships is part of the Quad Gas Group consortium that has agreed to acquire a 61% interest in National Grid's gas distribution network. INPP expects to invest up to £275 million, with the remaining risk capital funded by the other consortium partners who include other leading UK and international institutional investors, including: Allianz Capital Partners, Dalmore Capital Limited, Macquarie Infrastructure and Real Assets, CIC Capital Corporation, Hermes Investment Management and Qatar Investment Authority.

Chairman Rupert Dorey said: "INPP's participation in the consortium to acquire National Grid's gas distribution business offers the Company additional opportunities for highly attractive risk-adjusted returns with strong inflation protection to compliment those it already generates from its existing portfolio. The acquisition is fully in line with our strategy to strengthen the quality of our portfolio and enhance further the inflation protection it continues to offer."

At 9:38am: (LON:INPP) International Public Partnership Ltd share price was -1.4p at 157.4p

Story provided by StockMarketWire.com

Related Company: INPP

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