Macquarie and BCI / National Grid gas transmission and metering

The CMA investigated and cleared the anticipated acquisition by the consortium between Macquarie Infrastructure and Real Assets (Europe) Limited and British Columbia Investment Management Corporation of a 60% shareholding in the gas transmission and gas metering business of National Grid plc.

From:
Competition and Markets Authority
Published
27 September 2022
Last updated
29 December 2022 — See all updates
Case type:
Mergers
Case state:
Closed
Market sector:
Energy
Outcome:
Mergers - phase 1 clearance
Opened:
27 September 2022

Statutory timetable

Phase 1 Action
22 November 2022 Phase 1 decision announced
27 September 2022 to 11 October 2022 Invitation to comment
27 September 2022 Launch of merger inquiry

Phase 1

CMA clearance decision

22 November 2022: The CMA has cleared the anticipated acquisition by the consortium between Macquarie Infrastructure and Real Assets (Europe) Limited and British Columbia Investment Management Corporation of a 60% shareholding in the gas transmission and gas metering business of National Grid plc.

Launch of merger inquiry

27 September 2022: The CMA announced the launch of its merger inquiry by notice to the parties.

Invitation to comment: closes on 11 October 2022

27 September 2022: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result, in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

To assist it with this assessment, the CMA invites comments on the transaction from any interested party.

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Contact

Please send written representations about any competition issues to general.enquries@cma.gov.uk.

Published 27 September 2022
Last updated 29 December 2022 + show all updates

  1. Full text of clearance decision published

  2. Clearance decision published.

  3. First published.