£13.4 billion acquisition of National Grid’s UK Gas Distribution network.
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National Grid Gas Distribution is a critical UK infrastructure asset, responsible for operating four out of the eight gas distribution networks in the UK, delivering gas to around 11 million customers. The network rebranded as Cadent in May 2017.
Macquarie Capital acted as lead financial adviser to the Quadgas consortium. MIRA formed and led the consortium of like-minded long-term infrastructure investors.
Seamless M&A and DCM advice helped Quadgas maximise value and select the most flexible and efficient capital structure for this highly competitive transaction.
of enterprise value
61% equity stake
in National Grid’s UK Gas Distribution business
of investment grade debt from a club of 13 banks raised in only six weeks