A consortium led by Macquarie Asset Management has entered into an agreement with National Grid to acquire a further 20% equity interest in National Gas.

The Consortium has increased its ownership in National Gas to 80% through a recent investment. This investment was on similar financial terms to the initial 60% acquisition completed in January 2023. Additionally, the Consortium has entered a new option agreement with National Grid for the potential acquisition of the remaining 20% shareholding in National Gas, valuing the unit at approximately GBP 9.6 billion (US$12.42 billion).

National Gas is responsible for operating the UK's 7,600-km national transmission system, transporting gas for heating homes, powering industries, and electricity generation. Additionally, they offer maintenance and management services for over 7 million gas meters in domestic, industrial, and commercial settings throughout the UK.