Business
Acquisition completion: Western Power Distribution
Acquisition completion: Western Power Distribution.
About this update from National Grid Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8047B\n National Grid PLC\n 14 June 2021\n \n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION\n \n FOR IMMEDIATE RELEASE\n \n \n 14 June 2021\n \n National Grid plc\n \n Completion of acquisition of Western Power Distribution \n National Grid plc (\"National Grid\") is pleased to announce that it has today completed the acquisition of PPL WPD Investments Limited (together with its subsidiary undertakings, (the \"WPD Group\")), the holding company of Western Power Distribution, the UK's largest electricity distribution business, from PPL WPD Limited, a subsidiary of PPL Corporation (the \"WPD Acquisition\").\n Following National Grid's voluntary notification of the WPD Acquisition to the Competition and Markets Authority (\"CMA\"), the CMA is undertaking its merger review which has not yet concluded. As a result, and as is customary in such circumstances, the CMA has issued an Initial Enforcement Order, requiring the WPD Group to continue to be run independently from National Grid and under its existing management until the CMA review has completed.\n \n Enquiries:\n \n National Grid\n \n Investors and Analysts\n \n \n \n Nick Ashworth\n \n \n +44 (0) 7814 355 590\n \n \n \n \n Angela Broad\n \n \n +44 (0) 7825 351 918\n \n \n \n \n James Flanagan\n \n \n +44 (0) 7970 778 952\n \n \n \n \n Jonathan Clay\n \n \n +44 (0) 7899 928 247\n \n \n \n \n Media\n \n \n \n Molly Neal\n \n \n +44 (0) 7583 102 727\n \n \n \n \n Surinder Sian\n \n \n +44 (0) 7812 485 153\n \n \n \n \n \n \n CAUTIONARY STATEMENT\n \n \n \n This announcement contains certain statements that are neither reported financial results nor other historical information. These statements are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include information with respect to National Grid's (the Company) financial condition, its results of operations and businesses, strategy, plans and objectives. Words such as 'aims', 'anticipates', 'expects',...