Centrica plc and Energy Capital Partners, LLC completed the acquisition of National Grid Grain LNG Limited and Thamesport Interchange Limited from National Grid plc (LSE:NG.)

Centrica plc (LSE:CNA) and Energy Capital Partners, LLC entered into a sale and purchase agreement to acquire National Grid Grain LNG Limited/Thamesport Interchange Limited from National Grid plc (LSE:NG.) for an enterprise value of £1.5 billion on August 14, 2025. A cash consideration will be paid by Centrica plc and Energy Capital Partners, LLC. The purchase of Grain LNG is for an enterprise value of £1.5 billion.

Centrica's 50% share of the equity investment of approximately £200 million will be funded from it's existing cash resources. Centrica plc and Energy Capital Partners has also secured approximately £1.1 billion of committed financing, which will be drawn at closing, to fund a portion of the enterprise value.

The transaction is conditional upon certain regulatory approvals being received, including approval under the National Security and Investment Act and certain mandatory anti-trust approvals. The completion of the transaction is expected to occur in Q4 this calendar year.

Brian O'Keeffe, Conor Hennebry and Martin Weltman Banco Santander, S.A., London Branch acted as financial advisor for Centrica plc and Energy Capital Partners, LLC. Slaughter and May acted as legal advisor for Centrica plc. Latham & Watkins LLP acted as legal advisor for Centrica plc and Energy Capital Partners, LLC. Morgan Stanley acted as financial advisor to National Grid plc. Charles Steward, Caroline Rae, Reza Dadbakhsh, Silke Goldberg, David Coulling, Veronica Roberts, Howard Murray and Tim Leaver of Herbert Smith Freehills LLP acted as legal advisor to National Grid plc (LSE:NG.)

Centrica plc (LSE:CNA) and Energy Capital Partners, LLC completed the acquisition of National Grid Grain LNG Limited and Thamesport Interchange Limited from National Grid plc (LSE:NG.) on November 28, 2025.