National Grid - britische Energienetze (Strom&Gas) (Seite 4)

[h1as]

Antwort auf Beitrag Nr.: 54.891.074 von R-BgO am 08.05.17 14:47:38

Verstehe den Hintergrund nicht, was bringt das für Vorteile ?

[R-BgO]

Antwort auf Beitrag Nr.: 53.855.402 von R-BgO am 08.12.16 15:05:09

sie machen den gleichen englischen Scheiß, wie viele andere auch:

"share consolidation": http://investors.nationalgrid.com/~/media/Files/N/National-G…


Zahlen sollen am 19.5. kommen

[price-of-success]

jemand hier??

[R-BgO]

8 December 2016
Sale of majority interest in National Grid Gas Distribution Proposed one-off £4 billion return of capital to shareholders


National Grid plc (“National Grid”) is pleased to announce that it has today entered into an agreement to sell a 61% equity interest in its UK gas distribution business (“NGGD”) to a consortium (the “Consortium”) of long-term infrastructure investors (the “Transaction”).

The Consortium comprises Macquarie Infrastructure and Real Assets (“MIRA”), Allianz Capital Partners, Hermes Investment Management, CIC Capital Corporation, Qatar Investment Authority, Dalmore Capital and Amber Infrastructure Limited/International Public Partnerships.

The terms of the Transaction imply an enterprise value for NGGD of approximately £13.8 billion*. In consideration for the sale of its equity interest, on completion National Grid will receive a payment of £3.6 billion in cash from the Consortium (subject to certain completion adjustments) and will own a 39% minority equity interest in a new holding company for NGGD (“GasD HoldCo”). In addition, National Grid will receive £1.8 billion from additional debt financing.

Following completion of the Transaction, National Grid intends to return £4 billion of net proceeds to shareholders through the combination of a special dividend (together with a share consolidation) and share buy-backs. At least 75% of the net proceeds are expected to be returned via a special dividend in Q2 of calendar year 2017. Net proceeds are calculated after retaining £0.7 billion of the additional debt financing, in order to maintain the equity value of our 39% interest in NGGD, and after deduction of costs of around £0.5 billion.

A further announcement regarding the nature and timing of the capital return will be made in due course.

Completion of the Transaction is conditional on the receipt of merger clearance from the European Commission. Subject to satisfaction of this condition, National Grid expects that the Transaction will complete on or prior to 31 March 2017.

National Grid and the Consortium have also expressed an interest in relation to the potential future sale and purchase of an additional 14% of equity in GasD HoldCo on broadly equivalent financial terms to the Transaction. Further details will be announced if agreement is reached.

In conjunction with the transaction the Board has agreed a voluntary distribution of £150 million for the benefit of energy consumers. National Grid takes very seriously the role it plays in people’s daily lives and believes it has a responsibility to ensure that our wider stakeholders benefit from the incremental value of the NGGD sale.


John Pettigrew, Chief Executive of National Grid, said:

“Today’s announcement follows a highly competitive sale process. It represents an important milestone in the evolution of National Grid and is a good outcome for our customers, employees, and shareholders. The Consortium, has a long-term commitment to the UK with significant experience in owning infrastructure assets, and we look forward to working with them as the gas distribution business continues to deliver a safe and reliable service.

“On completion, National Grid’s portfolio will be rebalanced towards higher growth assets, whilst maintaining a strong balance sheet and supporting our sustainable dividend policy.”


Martin Stanley, Global Head of MIRA, on behalf of the consortium said:

“This is a well-established business and we are confident that as investors we can continue to provide both high quality infrastructure for the UK and appropriate risk-adjusted returns for investors. MIRA has long standing operational experience in managing utilities and critical infrastructure in the UK, across Europe and around the world and we are committed to being a long term investor in and a responsible custodian of National Grid Gas Distribution.”

The Transaction constitutes a class 2 transaction for the purposes of the UK Financial Authority’s Listing Rules and, as such, does not require National Grid shareholders’ approval.

Following completion, National Grid’s interest in GasD HoldCo will be accounted for under the equity method of accounting.

Morgan Stanley, Robey Warshaw and Barclays acted as financial advisers to National Grid.


* Includes positive fair value adjustments of approximately £0.4 billion on debt novated from National Grid Gas plc in connection with the Transaction.

[price-of-success]

hält sich im UMfeld heute ganz prima

[R-BgO]

Zahlen sollen am 19.5. kommen

[fmhbolero]

National Grid hits record highs

Artikel im Telegraph.

The last time Questor looked at National Grid we said investors should hold due to the favourable credit backdrop.
The shares have increased more than 6% since then and now trade on a price earnings ratio of 16.7 times,
and offer a prospective dividend yield of 4.7% guaranteed to rise with inflation.

[R-BgO]

Antwort auf Beitrag Nr.: 45.985.758 von R-BgO am 05.12.13 13:31:20

war wohl nicht so eine gute Idee: Kurs aktuell 877p

GB ist auch da

[R-BgO]

nachdem ich bei Vodafone ausgeübt worden bin, habe ich den Erlös nun hier zu 748p angelegt und per jun14 mit strike 800p veroptioniert; gibt 2% Zusatzrendite fürs Abschneiden der upside

[R-BgO]

aufgestockt