National Grid on Thursday moved to allay concerns over potential Chinese investment in the UK gas distribution network that it is aiming to sell for about £11bn, in what would be one of the biggest British infrastructure deals for years. John Pettigrew, chief executive of the UK power system operator, said that there would be safeguards to ensure security of supply regardless of who owns the business, which serves 11m homes in regions including London, the West Midlands and north-west England. Several Chinese investors are among the rival consortiums vying for a majority stake in National Grid’s gas distribution network, according to people involved in the process. The auction will pose the first test of UK government attitude to overseas investment in critical infrastructure since it launched a review in September of how such deals are scrutinised.
FT 11th Nov 2016 read more »