National Grid Completes Sale of 20% Stake in National Gas

TL;DR

National Grid sold its 20% stake in National Gas, completing a strategic divestment.

AI Summary

On March 11, 2024, National Grid plc announced the completion of the sale of its 20% stake in National Gas. This transaction is a significant step in the company's strategy to divest its remaining interest in National Gas.

Why It Matters

This sale is part of National Grid's ongoing strategy to simplify its business and focus on its core regulated assets in the UK and US.

Risk Assessment

Risk Level: low — The filing is an announcement of a completed transaction and does not introduce new risks.

Key Numbers

• 20% — Stake Sold (Percentage of National Gas sold by National Grid)

Key Players & Entities

• National Grid plc (company) — Filer of the report and seller of the stake
• National Gas (company) — Company in which National Grid sold a 20% stake

FAQ

Filing Documents

• a3445g.htm (6-K) — 28KB
• 0001654954-24-002915.txt ( ) — 30KB

From the Filing

OF SALE OF 20% OF NATIONAL GAS a3445g       UNITED STATES   SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549   FORM 6-K   REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934   Date: 11 March 2024   Commission File Number: 001-14958       NATIONAL GRID plc   (Translation of registrant’s name into English)   England and Wales   (Jurisdiction of Incorporation)        1-3 Strand, London, WC2N 5EH, United Kingdom (Address of principal executive office)     Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.   ☒   Form 20-F       ☐   Form 40-F   Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):   ☐   Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):   ☐   Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3- 2(b) under the Securities Exchange Act of 1934.   ☐   Yes     ☒   No   If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): n/a                       EXHIBIT INDEX   Exhibit No.   Description   99.1   Exhibit 99.1 Announcement sent to the London Stock Exchange on 11 March 2024   — Completion of sale of 20% of National Gas       Exhibit 99.1     11 March 2024   National Grid plc ("National Grid")   Completion of sale of 20% of National Gas     National Grid plc is pleased to announce that it has today completed the sale of a further 20% equity interest in National Gas to the existing majority owners, a consortium of long-term investors led by Macquarie Asset Management, which we announced on 19 July 2023.           Enquiries and   contacts     Investors and Analyst:   Nick Ashworth                                     +44 (0) 7814 355 590 Angela Broad                                       +44 (0) 7825 351 918 James Flanagan                                    +44 (0) 7970 778 952   Media:   Molly Neal                                           +44 (0) 7583 102 727 Lyndsey Evans                                    +44 (0) 7714 672 052       About National Gas   National Gas owns and operates the regulated gas National Transmission System ("NTS") in Great Britain, and also owns a regulated gas metering business.                   SIGNATURE   Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.         NATIONAL GRID plc           By:   /s/Sally Kenward _______________________       Sally Kenward Senior Assistant Company Secretary         Date: 11 March 2024

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View this 6-K filing on SEC EDGAR