Aug 7, 2022
UK to review Macquarie’s £4.2bn deal for National Grid’s gas business
The UK government is to review a £4.2bn foreign takeover of a key part of the country's gas infrastructure amid increased concerns about energy security. The sale of a 60 per cent stake in National Grid's gas transmission business to an international consortium led by Australia's Macquarie, the world's largest infrastructure investor, is to be reviewed under the National Security and Investment Act. A spokesperson for National Grid said the review process had been anticipated. The National Grid deal means the Macquarie-led consortium will take over 7,660km of pipes transporting gas to heat homes and power industry and electricity generation across Britain. National Grid, which controls the national electricity transmission network in the UK, has been seeking to shift its business away from fossil fuels towards the provision of lower-carbon power.
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