National Grid has agreed a potential £1.2 billion sale of its remaining stake in Cadent, its former gas distribution business. The FTSE 100 utility sold a 61 per cent stake in the regional networks, which distribute gas to 11 million homes and businesses, to Quadgas, a Macquarie-led consortium, last year, with an agreement that it could sell a further 14 per cent on similar terms next year. National Grid said yesterday that it had come to an agreement where either party could trigger the sale of the final 25 per cent stake of the networks, which have been rebranded as Cadent, to Quadgas next year.
Times 2nd May 2018 read more »
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