PPL, CKI, MidAmerican named as bidders for E.ON UK grid business

E.ON is understood to have received bids for its UK electricity grid distribution business from US energy supplier PPL, Hong Kong-based CKI and MidAmerican Energy Holdings, owned by Warren Buffett’s Berkshire Hathaway.
All three firms already have operations in the UK. According to the Financial Times, E.ON is considering the new approaches after talks late last year to sell the business, the UK’s second-biggest electricity network that provides power to more than 5m customers in the Midlands, to a group of buyers led by Canada Pension Plan, stalled over price.
E.ON has taken on JP Morgan Chase and Barclays to advise it during a EUR15bn ($21bn) asset sale over the next three years.

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