Engie Tries to Catch Peers With $14 Billion UK Power Grid Bet

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000UK Power Networks is Britain’s largest power-distribution operator.After four years of taking a cautious approach to deals, Engie SA Chief Executive Officer Catherine MacGregor made her biggest acquisition yet with a £10.5 billion ($14.2 billion) bet on UK electricity grids.With its purchase of UK Power Networks, Britain’s largest power-distribution operator, Engie is banking on rising demand from electric vehicle chargers to data centers. The deal gives the French utility a second growth pillar beyond its renewable and battery-storage assets, and was greeted enthusiastically by investors.