Macquarie plans to cut stake in UK's Cadent - FT

Federated Hermes

18/02/2024 05:05

Feb 18 (Reuters) - Macquarie Group  MQG.AX  has joined
US-based Federated Hermes  FHI.N  to look to collectively sell
stakes in UK's gas network operator Cadent worth 1.3 billion
pounds  ($1.64 billion), the Financial Times reported on Sunday.
    Macquarie, which owns more than a 26% stake in the company,
is in early stage talks to sell a 5% stake, while Hermes, which
owns 13% of Cadent is looking to sell a 4.6% stake, the report
said, citing people close to the discussions.
($1 = 0.7938 pounds)

 (Reporting by Anirudh Saligrama in Bengaluru; Editing by Raju
Gopalakrishnan)
 ((Anirudh.Saligrama@thomsonreuters.com; @journoanirudh on
Twitter;))