ENGIE to acquire UK Power Networks for $14.2bn

ENGIE has signed an agreement to acquire UK Power Networks (UKPN), an electricity distribution network company, for an equity value of £10.5bn ($14.2bn). The deal is expected to close in mid-2026 following regulatory approvals and clearances by the shareholders of the Hong Kong-listed parent companies of the sellers. ENGIE will fully own UKPN, which serves 8.5 million customers across London, the South East and East of England through three regulated licences. The acquisition values UKPN at an enterpri ...