National Grid offloads New Hampshire divisions
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.
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
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Christmas at Chatsworth: review of The Cavendish Hotel at Baslow
MoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
By Dr Matthew Partridge Published
-
Tycoon Truong My Lan on death row over world’s biggest bank fraud
Property tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
By Jane Lewis Published