UK-based investment holding company International Public Partnerships Ltd (IPPL) plans to commit another 150 million to 155 million pounds (about $192 million to $199 million) investment in gas distribution company Cadent’s gas distribution business.
The investment followed UK-based gas and electricity company National Grid's decision to divest IPPL’s remaining 39 percent stake in Cadent Gas Ltd to Quadgas Consortium.
After the new investment, INPP will hold a 7.25 percent stake in Cadent by the end of June 2019, and all of INPP’s investments are performing in line with expectations, driving strong financial performance.
During the period from July 1 to November 16, INPP made an additional $66 million investments.