LONDON, UK — This deal is supposed to boost National Grid’s UK portfolio and increase the company’s electrical assets from to 70%.

National Grid’s proposed acquisition of PPL WPD Investments, the holding company of Western Power Distribution (WPD) has been approved by the UK’s Competition and Markets Authority (CMA).

WPD is the power distribution network operator for the Midlands and South West of England, and Wales, delivering electricity to more than eight million customers.

National Grid is planning to acquire WPD from US-based energy company PPL’s subsidiary, PPL WPD, for £7.8 billion ($10.74billion).

Source: Power Technology