LONDON Dec 8 Britain's National Grid has
agreed to sell a 61 percent equity interest in its UK gas
distribution business to a group of infrastructure investors
that implies an enterprise value of around 13.8 billion pounds
($17.5 billion), it said on Thursday.
As part of the deal it plans to return 4 billion pounds of
capital to shareholders.
On completion National Grid will receive a payment of 3.6
billion pounds in cash from the consortium and will
own a 39 percent minority equity interest in a new holding
The Consortium comprises Macquarie Infrastructure and Real
Assets, Allianz Capital Partners, Hermes Investment Management,
CIC Capital Corporation, Qatar Investment Authority, Dalmore
Capital and Amber Infrastructure Limited/International Public
($1 = 0.7908 pounds)
(Reporting by Kate Holton; editing by Sarah Young)