IN BRIEF: National Grid completes Western Power buy but notes CMA halt

National Grid PLC - London-headquartered electricity and gas network operator - Completes ...

Alliance News 14 June, 2021 | 12:49PM
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National Grid PLC - London-headquartered electricity and gas network operator - Completes acquisition of PPL WPD Investments Ltd, the holding company of Western Power Distribution, the UK's largest electricity distribution business, from PPL WPD Ltd, a subsidiary of PPL Corp. "Following National Grid's voluntary notification of the WPD acquisition to the Competition & Markets Authority, the CMA is undertaking its merger review which has not yet concluded. As a result, and as is customary in such circumstances, the CMA has issued an initial enforcement order, requiring the WPD Group to continue to be run independently from National Grid and under its existing management until the CMA review has completed," National Grid notes.

The UK CMA issued the order last week. The GBP7.8 billion deal for Western Power from US energy firm PPL was agreed in March.

Current stock price: 919.20p

Year-to-date change: up 6.3%

By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
National Grid PLC 924.10 GBX -0.31

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