SHANGHAI, September 23, SinoCast -- A consortium led by Cheung Kong Infrastructure is likely to hand in an initial offer program for takeover of 51% equities in natural gas business of Britain's National Grid before the weekend. The business covers 11 million customers across Britain.
The first round of biddings is launched Friday. Entire takeover is predicted to take several weeks.
National Grid has hired Morgan Stanley, Barclays and Robey Warshaw as financial advisors. The deal is estimated at roughly GBP 11 billion.
The assets sale would become one of the largest deals for Britain in recent years if it achieved success.
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