Deals
National Grid Said to Plan Sale of Gas Distribution Assets
- Assets serve 11 million customers and could fetch $15 billion
- Long-distance, high-pressure pipelines said not part of sale
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National Grid Plc, operator of U.K. electricity and gas-pipeline networks, plans to seek buyers for its regional gas distribution business, according to people familiar with the situation.
The assets being targeted for sale serve almost 11 million customers, and could fetch as much as 10 billion pounds ($15 billion) if disposed as a whole, the people said, asking not to be identified discussing a private matter. The business could also be carved into parts, or a minority stake sold in the whole system, they said, with infrastructure and pension-fund investors the likeliest buyers.