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UK investigates sale of National Grid's gas transmission business, report says

Reuters
FILE PHOTO: Dials and valves are seen near a section of gas pipeline at a National Grid facility near Knutsford

LONDON (Reuters) - Britain has launched an investigation under new national security rules into the sale of a 60% stake in National Grid's gas transmission and metering business to a consortium led by Australia's Macquarie, the Telegraph reported on Sunday.

National Grid agreed to sell the unit for an enterprise value of about 9.6 billion pounds ($12.7 billion) in March.

(Reporting by Akriti Sharma and Paul Sandle; Editing by Raissa Kasolowsky)