M&A Deal Summary

National Grid Acquires KeySpan

On August 24, 2007, National Grid acquired oil/gas exploration company KeySpan for 7.3B USD

Acquisition Highlights
  • This is National Grid’s 1st transaction in the Oil/Gas Exploration sector.
  • This is National Grid’s 3rd largest (disclosed) transaction.
  • This is National Grid’s 3rd transaction in the United States.
  • This is National Grid’s 2nd transaction in New York.

M&A Deal Summary
Date 2007-08-24
Target KeySpan
Sector Oil/Gas Exploration
Buyer(s) National Grid
Deal Type Add-on Acquisition
Deal Value 7.3B USD

Target

KeySpan

Brooklyn, New York, United States
KeySpan is the largest distributor of natural gas in the Northeast and No. 5 in the USA, with utilities serving 2.6 million customers in New York, Massachusetts and New Hampshire. It's also New York's top electricity generator, supplying power to 1.1 million customers of Long Island Power Authority.

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Buyer(S) 1

Buyer

National Grid

London, United Kingdom

website

Category Company
Founded 1990
Sector Energy Services and Equipment
Employees29,292
Revenue 18.3B GBP (2022)
DESCRIPTION

National Grid is an electricity and gas company that connects consumers to energy sources through its networks. To create new, sustainable energy solutions for the future and developing an energy system that underpins economic prosperity in the 21st century. National Grid was founded in 1990 and is based in London, the United Kingdom.

DEAL STATS #
Overall 3 of 4
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (New York) 2 of 2
Country (United States) 3 of 3
Year (2007) 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-17 Lightower Fiber Networks

Boxborough, Massachusetts, United States

Lightower Fiber Networks LLC is a fiber network and broadband service provider in the Northeast, offering over 4,600 fiber route miles coupled with comprehensive transport, alternative access, and nationwide long haul services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-31 KeySpan-Ravenswood

United States

KeySpan-Ravenswood, Inc. is a gas and oil fired generating facility consisting of multiple units employing steam turbine, combined cycle and combustion turbine technology.

Sell $2.8B
Mergr

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