France strengthens grip on Britain’s energy market in £10billion deal for London power network
French energy company ENGIE has agreed a £10. 5billion takeover of UK Power Networks in one of the largest transactions in Britain s energy sector in more than a decade. The acquisition gives control of London s electricity distribution network to a company in which the French state holds around 24 per cent, making it the anchor shareholder with significant voting rights. The transaction values UK Power Networks at an enterprise value of £15. 8billion and will make Britain ENGIE s second
French energy company ENGIE has agreed a £10. 5billion takeover of UK Power Networks in one of the largest transactions in Britain s energy sector in more than a decade. The acquisition gives control of London s electricity distribution network to a company in which the French state holds around 24 per cent, making it the anchor shareholder with significant voting rights. The transaction values UK Power Networks at an enterprise value of £15. 8billion and will make Britain ENGIE s second
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