April 13, 2021

DealMakerz

Complete British News World

National grid in network business in the United Kingdom grows by acquiring WPD for 9.200 million – El Periodico de la Energia

National Phase One has reached Acquisition Agreement of Western Power Supply (WPD), A subsidiary of the American Group BPL And the biggest business Power supply of Britain, For 7.8 billion (approximately 2 9.2 billion).

The company said it expects the BPL acquisition to allow it to carry out a “strategic” restructuring of its portfolio, and plans to launch a national phase gas (NGG) sales process in the second half of this year.

It will sell Rhode Island-based The Northeastern Electric in the US for ல்ல 2.7 billion (approximately 16 3.16 billion) to BPL.

The auction for WPD, which has been in operation for more than a year, has attracted great interest from finance and companies in the sector. The offer for these assets was not submitted by Enel of Italy.

In particular, the total value of the transactions between the two groups, including about, 6,600 million (approximately 7 7,716 million) in debt, is, 14,400 million (approximately, 16,835 million).

CEO of National Grid John Pettigrew, He promised that these transactions would “transform” his portfolio of assets in the United Kingdom because the acquisition of WPD was “a unique opportunity to gain significant prominence in the country”.

Therefore, he noted that the acquisition of National Grid, the United Kingdom’s leading power transmission and distribution operator, would strengthen the Group’s long – term growth prospects and enhance its role in the UK in energy transformation and enhance longevity. Term partner value. ‘

In this way, the acquisition will allow National Grid to increase exposure to emerging electricity markets by about 60% to 70% today and to ‘improve’ its role in helping the UK achieve target net zero emissions. 2050, he added.

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Acquisition of WPD, which owns and manages power grids in the Southwest England Y Gales And serves approximately eight million customers, subject to stakeholder approval and related regulatory approvals at a public meeting, and NECO sales condition upon completion of WPD acquisition.


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