U.K. Regulator Serves Enforcement Order on National Grid's WPD Acquisition
June 10 2021 - 2:52AM
Dow Jones News
By Joe Hoppe
The U.K.'s markets regulator said Thursday that it has served an
initial enforcement order on National Grid PLC, relating to its
expected acquisition of Western Power Distribution.
The Competition and Markets Authority said that it served the
order on May 17, preventing the full integration of National Grid
and WPD.
National Grid had said on March 18 it was looking to buy WPD
from PPL Corp. for an equity value of 7.8 billion pounds ($11.01
billion).
WPD owns four distribution networks in the U.K., delivering
power to around 7.9 million customers. The acquisition was expected
to complete around July.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
June 10, 2021 02:44 ET (06:44 GMT)
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