NGG - National Grid picks banks for $7B gas asset sale - Bloomberg

National Grid ([[NGG]] +0.4%) has hired banks for the sale of a majority stake in its gas grid business, turning to the advisers that earlier helped secure its purchase of PPL Corp.'s U.K. electricity distribution business, Bloomberg reports.Barclays, Goldman Sachs and Robey Warshaw reportedly will assist the U.K.-based utility on the sale of a stake that could be valued at as much as £5B ($6.9B).A stake in the gas asset could attract large infrastructure funds and financial investors seeking steady and stable returns, according to the report.National Grid's gas transmission business is one of the largest in the U.K. and includes a 7K-km pipe network across the country.Some investors consider National Grid a good buy, while others see a company that has gone almost nowhere in 10 years, Wolf Report writes in a new neutral analysis published on Seeking Alpha.

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National Grid picks banks for $7B gas asset sale - Bloomberg