National Grid sells gas pipeline for billions

A consortium of state investors, including from China and Qatar, have bought the majority of National Grid's gas distribution, which is valued at GBP 3.6 billion.

Photo: Dong Energy, PR

National Grid has sold 61 percent of shares in its British gas division (NGGD). The buyer is a consortium lead by Australian investment bank Macquarie Bank and is backed up financially by state investors including China and Qatar. The consortium will pay GBP 3.6 billion for a majority shareholding and a further GBP 1.8 billion in debt financing.

This is according to a press release from the company.

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