National Grid sells further 20% of National Gas unit to Macquarie-led consortium

(Sharecast News) - National Grid has sold a further 20% of its UK National Gas transmission and metering business to the existing majority owners, a consortium of investors led by Macquarie Asset Management, along with an option to buy the rest of the company. National Grid said it intended to use total proceeds of £700m towards general corporate purposes including repayment of debt.

The consortium has the option, exercisable between 1 May 2024 and 31 July 2024, to buy all or part of the remaining 20%.