Union hits out at sale to overseas consortium involving Australian bank Macquarie plus Chinese and Qatari state investors
National Grid has agreed to sell a majority stake in its gas pipe network to a group of investors including Chinese and Qatari sovereign wealth funds in a deal valuing the business at about £13.8bn.
The UK’s power network operator said it would sell a 61% shareholding in the gas division to a consortium led by Macquarie, an Australian investment bank. The deal is also backed by China Investment Corporation (CIC) and Qatar Investment Authority, along with fund managers including Hermes and Allianz.
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