Linklaters and CMS reprise lead roles as National Grid sells £1.2bn stake in gas distribution business

National Grid sells remaining 25% stake in Cadent Gas following landmark 61% sale in 2016

Linklaters has reprised its lead role opposite CMS on National Grid’s £1.2bn sale of its remaining 25% stake in the UK’s biggest gas distribution business to a consortium of international investors.

National Grid is selling the stake in Cadent Gas – formerly known as known as National Grid Gas Distribution – to the Quadgas consortium, which is led by Macquarie Bank and Allianz Capital Partners, on the back of the sale of a 61% stake in the business in December 2016.

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