In March 2021, National Grid announced it intended to purchase Western Power Distribution from PPL Corporation for £7.8 billion, and sell its Rhode Island gas and electricity network, Narragansett Electric Company, to PPL for about £2.7 billion. National Grid will also sell its majority ownership of the UK gas distribution business. These transactions are subject to shareholder and regulatory approval. Separately, the company is to commence a process to sell a majority stake in its National Grid Gas distribution network. These transactions require shareholder and regulatory approvals; in addition, the sale of the US subsidiary is conditional on completion of the WPD acquisition.