UK's National Grid investment by group including China's CIC approved
China DailyBritish Prime Minister Theresa May today gave the green light for a consortium, including China Investment Corporation, to acquire a 61 percent stake in National Grid Plc's gas division, a National Grid spokeswoman told China Daily. The consortium, including CIC, Macquarie Bank of Australia, the Qatar Investment Authority and Allianz Capital Partners, will pay 3.6 billion pounds for the stake. The go-ahead by May is seen as a major testing ground for the UK government and its attitude towards foreign investment, and it comes just days after the Prime Minister triggered Article 50, the official process for leaving the European Union. Foreign ownership of UK infrastructure has been under scrutiny since Theresa May ordered a review of the Hinkley Point deal in southwest Englandbefore approving Chinese investment in the 18-billion-pounds French-designed nuclear power station.
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National Grid sells off another 20% of gas network to Australia’s Macquarie
The Independent
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