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PPL, National Grid to Swap Utilities in Multibillion-Dollar Deals

Matthew DiLallo, The Motley Fool
·2 min read
PPL, National Grid to Swap Utilities in Multibillion-Dollar Deals

PPL Corp. (NYSE: PPL) has agreed to sell its U.K. utility business, Western Power Distribution (WPD), to National Grid (NYSE: NGG) for $10.9 billion in cash. In a separate deal, PPL has agreed to buy National Grid's Rhode Island utility business, The Narragansett Electric Company, for $5.3 billion, including the assumption of $1.5 billion in debt. The transactions will strategically reposition PPL into a high-growth, U.S.-focused energy company with a strong balance sheet.

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