A consortium led by Macquarie Asset Management has forged an agreement with National Grid to increase its equity interest in National Gas, which operates the United Kingdom’s 7,600-kilometer (4,722-mile) national transmission system, to 80 percent.
National Gas transports the gas needed to heat U.K. homes as well as power industry and electricity generation. The company also provides maintenance and management services for more than 7 million domestic, industrial and commercial gas meters across the United Kingdom.
The consortium acquired an initial 60 percent interest in National Gas in January, after which National Gas became an independent company. The group of investors have now entered into a new option agreement with National Grid for the potential acquisition of the remaining 20 percent shareholding, which is exercisable between May 1, 2024, and July 31, 2024.
“This additional investment underlines our commitment to National Gas and the critical role