[6-K] National Grid PLC Current Report (Foreign Issuer)
National Grid has agreed to sell its Grain LNG business to a consortium including Centrica plc and Energy Capital Partners (part of Bridgepoint). The terms comprise total proceeds of approximately £1.66 billion, including a pre-completion dividend, with the final consideration subject to customary completion adjustments.
The company says the sale advances its previously communicated strategy to streamline the business and focus on networks. Grain LNG, held through two wholly owned subsidiaries, owns and operates the UK’s largest LNG importation terminal under long-term take-or-pay contracts and is described as playing an important role in securing UK gas supply. Completion is subject to customary government and regulatory approvals and, subject to clearances, is expected to occur later this year.
National Grid ha concordato la vendita della sua attività Grain LNG a un consorzio che comprende Centrica plc ed Energy Capital Partners (parte di Bridgepoint). Le condizioni prevedono proventi complessivi di circa £1.66 billion, inclusivo di un dividendo versato prima del completamento; l'importo finale sarà soggetto ai consueti adeguamenti di chiusura.
L'azienda dichiara che la cessione avanza la strategia già comunicata di snellire il gruppo e concentrarsi sulle reti. Grain LNG, detenuta tramite due controllate interamente possedute, possiede e gestisce il più grande terminal di importazione di GNL del Regno Unito nell'ambito di contratti a lungo termine 'take-or-pay' ed è considerata importante per la sicurezza dell'approvvigionamento di gas del paese. Il completamento è subordinato alle consuete autorizzazioni governative e regolamentari e, salvo approvazioni, è previsto per la seconda metà dell'anno in corso.
National Grid ha acordado vender su negocio Grain LNG a un consorcio que incluye a Centrica plc y Energy Capital Partners (parte de Bridgepoint). Los términos establecen ingresos totales de aproximadamente £1.66 billion, incluyendo un dividendo previo al cierre, y la contraprestación final quedará sujeta a los habituales ajustes de cierre.
La compañía afirma que la venta impulsa su estrategia previamente comunicada de simplificar el negocio y centrarse en las redes. Grain LNG, participada a través de dos filiales totalmente propiedad de la compañía, posee y opera la mayor terminal de importación de GNL del Reino Unido bajo contratos take-or-pay a largo plazo y se describe como un actor clave para garantizar el suministro de gas del país. El cierre está condicionado a las habituales aprobaciones gubernamentales y regulatorias y, una vez obtenidas las autorizaciones, se espera que tenga lugar más adelante este año.
National Grid는 자회사 Grain LNG 사업을 Centrica plc와 Energy Capital Partners(Bridgepoint 계열)를 포함한 컨소시엄에 매각하기로 합의했습니다. 조건은 약 £1.66 billion의 총 수익을 포함하며 완료 전 배당금을 포함하고, 최종 대금은 통상적인 완료 조정의 적용을 받습니다.
회사는 이번 매각이 기존에 발표한 사업 간소화 및 네트워크에 집중하는 전략을 진전시킨다고 밝혔습니다. Grain LNG는 전액 출자된 두 개의 자회사를 통해 보유되며 장기 테이크오어페이(take-or-pay) 계약에 따라 영국 최대의 LNG 수입 터미널을 소유·운영하고 있어 영국의 가스 공급 안정에 중요한 역할을 하는 것으로 설명됩니다. 거래 완료는 정부 및 규제기관의 통상적 승인에 따르며, 필요한 허가가 내려지면 올해 후반에 마무리될 것으로 예상됩니다.
National Grid a accepté de céder son activité Grain LNG à un consortium comprenant Centrica plc et Energy Capital Partners (groupe Bridgepoint). Les conditions prévoient un produit total d'environ £1.66 billion, incluant un dividende versé avant la finalisation ; la contrepartie finale reste soumise aux ajustements de clôture habituels.
Le groupe indique que cette cession s'inscrit dans la stratégie déjà annoncée de simplification des activités et de recentrage sur les réseaux. Grain LNG, détenue via deux filiales en pleine propriété, possède et exploite le plus grand terminal d'importation de GNL du Royaume‑Uni dans le cadre de contrats 'take-or-pay' à long terme et est considérée comme jouant un rôle important pour sécuriser l'approvisionnement en gaz du pays. La finalisation est subordonnée aux autorisations gouvernementales et réglementaires habituelles et, sous réserve des approbations, devrait intervenir plus tard dans l'année.
National Grid hat zugestimmt, sein Grain LNG‑Geschäft an ein Konsortium zu verkaufen, dem Centrica plc und Energy Capital Partners (Teil von Bridgepoint) angehören. Die Bedingungen sehen Gesamterlöse von etwa £1.66 billion vor, einschließlich einer vor Abschluss gezahlten Dividende; der endgültige Kaufpreis unterliegt den üblichen Abschlussanpassungen.
Das Unternehmen erklärt, dass der Verkauf die bereits kommunizierte Strategie vorantreibt, das Geschäft zu straffen und sich auf die Netze zu konzentrieren. Grain LNG, gehalten über zwei hundertprozentige Tochtergesellschaften, besitzt und betreibt das größte LNG‑Importterminal des Vereinigten Königreichs unter langfristigen 'take-or-pay'‑Verträgen und wird als wichtiger Faktor zur Sicherung der britischen Gasversorgung beschrieben. Der Abschluss steht unter dem Vorbehalt der üblichen behördlichen und regulatorischen Genehmigungen und wird, vorbehaltlich dieser Freigaben, voraussichtlich noch in diesem Jahr erfolgen.
- Proceeds of c. £1.66bn including a pre-completion dividend provide significant cash consideration from the divestment
- Sale aligns with stated strategy to streamline the business and focus on networks, as described by management
- Buyer consortium includes established energy and infrastructure investors (Centrica plc and Energy Capital Partners/Bridgepoint), indicating commercial interest
- Final consideration is subject to completion adjustments, so the headline proceeds may change at closing
- Transaction completion requires customary government and regulatory approvals, introducing timing and outcome uncertainty
- Announcement contains forward-looking statements and risks that could affect actual outcomes as detailed in the issuer's risk disclosures
Insights
TL;DR: A material divestment delivering c. £1.66bn proceeds that management says advances its network-focused strategy.
The announced sale produces total proceeds of approximately £1.66bn, including a pre-completion dividend, and transfers ownership of Grain LNG to a consortium led by Centrica plc and Energy Capital Partners (Bridgepoint). The company explicitly frames this as part of a strategy to streamline and focus on networks, and notes prior disposals consistent with that approach. The terminal is described as the UK’s largest LNG importation facility operating under long-term take-or-pay contracts, which the company says plays an important role in UK gas security. The transaction remains subject to customary regulatory approvals and completion adjustments, which will determine the final cash received.
TL;DR: Commercially significant sale but outcome depends on regulatory clearances and completion adjustments.
The deal parties and headline consideration are disclosed: a consortium including Centrica and Energy Capital Partners will acquire Grain LNG for around £1.66bn including a pre-completion dividend. The filing notes that final consideration is subject to completion adjustments and that customary government and regulatory approvals are required. These contingencies are standard but material to the closing value and timing. The company positions the sale as strategic simplification toward a networks focus, and identifies Grain LNG as a critical UK gas import terminal owned through two subsidiaries.
National Grid ha concordato la vendita della sua attività Grain LNG a un consorzio che comprende Centrica plc ed Energy Capital Partners (parte di Bridgepoint). Le condizioni prevedono proventi complessivi di circa £1.66 billion, inclusivo di un dividendo versato prima del completamento; l'importo finale sarà soggetto ai consueti adeguamenti di chiusura.
L'azienda dichiara che la cessione avanza la strategia già comunicata di snellire il gruppo e concentrarsi sulle reti. Grain LNG, detenuta tramite due controllate interamente possedute, possiede e gestisce il più grande terminal di importazione di GNL del Regno Unito nell'ambito di contratti a lungo termine 'take-or-pay' ed è considerata importante per la sicurezza dell'approvvigionamento di gas del paese. Il completamento è subordinato alle consuete autorizzazioni governative e regolamentari e, salvo approvazioni, è previsto per la seconda metà dell'anno in corso.
National Grid ha acordado vender su negocio Grain LNG a un consorcio que incluye a Centrica plc y Energy Capital Partners (parte de Bridgepoint). Los términos establecen ingresos totales de aproximadamente £1.66 billion, incluyendo un dividendo previo al cierre, y la contraprestación final quedará sujeta a los habituales ajustes de cierre.
La compañía afirma que la venta impulsa su estrategia previamente comunicada de simplificar el negocio y centrarse en las redes. Grain LNG, participada a través de dos filiales totalmente propiedad de la compañía, posee y opera la mayor terminal de importación de GNL del Reino Unido bajo contratos take-or-pay a largo plazo y se describe como un actor clave para garantizar el suministro de gas del país. El cierre está condicionado a las habituales aprobaciones gubernamentales y regulatorias y, una vez obtenidas las autorizaciones, se espera que tenga lugar más adelante este año.
National Grid는 자회사 Grain LNG 사업을 Centrica plc와 Energy Capital Partners(Bridgepoint 계열)를 포함한 컨소시엄에 매각하기로 합의했습니다. 조건은 약 £1.66 billion의 총 수익을 포함하며 완료 전 배당금을 포함하고, 최종 대금은 통상적인 완료 조정의 적용을 받습니다.
회사는 이번 매각이 기존에 발표한 사업 간소화 및 네트워크에 집중하는 전략을 진전시킨다고 밝혔습니다. Grain LNG는 전액 출자된 두 개의 자회사를 통해 보유되며 장기 테이크오어페이(take-or-pay) 계약에 따라 영국 최대의 LNG 수입 터미널을 소유·운영하고 있어 영국의 가스 공급 안정에 중요한 역할을 하는 것으로 설명됩니다. 거래 완료는 정부 및 규제기관의 통상적 승인에 따르며, 필요한 허가가 내려지면 올해 후반에 마무리될 것으로 예상됩니다.
National Grid a accepté de céder son activité Grain LNG à un consortium comprenant Centrica plc et Energy Capital Partners (groupe Bridgepoint). Les conditions prévoient un produit total d'environ £1.66 billion, incluant un dividende versé avant la finalisation ; la contrepartie finale reste soumise aux ajustements de clôture habituels.
Le groupe indique que cette cession s'inscrit dans la stratégie déjà annoncée de simplification des activités et de recentrage sur les réseaux. Grain LNG, détenue via deux filiales en pleine propriété, possède et exploite le plus grand terminal d'importation de GNL du Royaume‑Uni dans le cadre de contrats 'take-or-pay' à long terme et est considérée comme jouant un rôle important pour sécuriser l'approvisionnement en gaz du pays. La finalisation est subordonnée aux autorisations gouvernementales et réglementaires habituelles et, sous réserve des approbations, devrait intervenir plus tard dans l'année.
National Grid hat zugestimmt, sein Grain LNG‑Geschäft an ein Konsortium zu verkaufen, dem Centrica plc und Energy Capital Partners (Teil von Bridgepoint) angehören. Die Bedingungen sehen Gesamterlöse von etwa £1.66 billion vor, einschließlich einer vor Abschluss gezahlten Dividende; der endgültige Kaufpreis unterliegt den üblichen Abschlussanpassungen.
Das Unternehmen erklärt, dass der Verkauf die bereits kommunizierte Strategie vorantreibt, das Geschäft zu straffen und sich auf die Netze zu konzentrieren. Grain LNG, gehalten über zwei hundertprozentige Tochtergesellschaften, besitzt und betreibt das größte LNG‑Importterminal des Vereinigten Königreichs unter langfristigen 'take-or-pay'‑Verträgen und wird als wichtiger Faktor zur Sicherung der britischen Gasversorgung beschrieben. Der Abschluss steht unter dem Vorbehalt der üblichen behördlichen und regulatorischen Genehmigungen und wird, vorbehaltlich dieser Freigaben, voraussichtlich noch in diesem Jahr erfolgen.
FAQ
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