Electricity giant National Grid has completed the sale of its New Hampshire electric and gas distribution businesses, Granite State Electric Company and Energy North Natural Gas Inc.
The company sold the units to Liberty Energy Utilities (New Hampshire) Corp, a subsidiary of Algonquin Power & Utilities Corp.
The gross proceeds from the transaction totalled $309m, including working capital of $24m and will be used for general funding purposes, National Grid said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
National Grid's shares have increased by 9.84% over the year to date to 53.25p as of Tuesday's close.
BC
-
Where are ISA savers and investors putting their money?With less than three months until the end of the tax year, where are ISA savers and investors putting their money? We look at the latest ISA trends.
-
More than £53 billion held in fixed-rate cash ISAs will mature by April - where should savers move their money?If your fixed-rate cash ISA is maturing soon, we look at the options available to you
