National Grid, an owner and operator of the electricity transmission network in England and Wales, completed the acquisition of Western Power Distribution, an electricity distribution network operator, from PPL, a utility holding company, for $20bn. "The strategic transactions we are announcing today immediately unlock value for shareowners and achieve the objectives we set out in launching the process to sell our UK utility business. They will refocus our business mix squarely on strong, rate-regulated US utilities; strengthen our credit metrics; enhance long-term earnings growth and predictability; and provide us with greater financial flexibility to invest in sustainable energy solutions for those we serve," Vincent Sorgi, PPL President and CEO. On June 10, 2021, UK competition authority stratsthe investigation of $10.8bn acquisition of WPD by National Grid.