Engie completes acquisition of UK Power Networks ahead of schedule
In a brief statement issued Thursday evening, Engie announced the finalization of its 100% acquisition of British electricity distributor UK Power Networks, nearly two months ahead of the original timeline.
As a reminder, the group signed an agreement for the acquisition at an equity value of GBP 10.5 billion (representing an estimated 2027 EBITDA multiple of approximately 10x, including the additional contribution from non-regulated assets) at the end of February.
'With 71 TWh of electricity distributed annually to 8.5 million customers and a workforce of 6,500, UKPN is a leader in UK electricity distribution', the French energy giant noted at the time.
According to Engie, this transaction marks a major milestone in its ambition to become the premier energy transition utility and will anchor its presence in the United Kingdom, which is set to become its second-largest market by business volume.
The deal is expected to have an immediate positive impact on earnings and be accretive from the first full year following completion, while maintaining credit rating commitments and supporting the group's dividend policy.
ENGIE is a major player in the energy transition, whose purpose is to accelerate the transition towards a carbon-neutral economy. With more than 90,000 employees in 30 countries, the Group covers the entire energy value chain, from production to infrastructures and sales. ENGIE combines complementary activities: renewable electricity and green gas production, flexibility assets (notably batteries), gas and electricity transmission and distribution networks, local energy infrastructures (heating and cooling networks) and the supply of energy to individuals, local authorities and businesses.
Every year, ENGIE invests on average EUR 12 billion to drive forward the energy transition and achieve its net-zero carbon goal by 2045.
The turnover achieved in 2025 amounts to EUR 71.9 billion. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, Euronext 100, FTSE Euro 100, MSCI Europe) and non-financial indices (DJSI World, Euronext Sustainable - Europe 120 / France 20, CAC 40 ESG, MSCI EMU ESG screened, MSCI EUROPE ESG Universal Select and Stoxx Europe 600 ESG-X).
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