National Grid plc (LON:NG) has announced that it has agreed to sell its Grain LNG business to a consortium of multinational energy company, Centrica plc (LON:CNA)and energy transition infrastructure investment firm, Energy Capital Partners LLC, part of Bridgepoint Group plc. This transaction is another important step in delivering National Grid’s previously communicated strategy to streamline our business and focus on networks, as announced in May 2024.
The terms of the transaction comprise total proceeds of c.£1.66 billion, including a pre-completion dividend. The final consideration will be subject to certain completion adjustments.
Completion of the transaction will be subject to customary government and regulatory approvals. Subject to these clearances, National Grid expects that the transaction will complete later this year.
John Pettigrew, CEO of National Grid plc, said: “Today’s announcement of the sale of Grain LNG marks another successful step in delivering National Grid’s previously communicated strategy to streamline our business and focus on networks, and follows the completion of the sale of our NG Renewables business in May 2025.”
