October 30, 2018 / 1:27 PM / 18 days ago

JPMorgan-owned Electricity North West plans 2 billion pounds sale: Sky News

(Reuters) - Electricity North West, which is owned in part by the asset management arm of JPMorgan Chase & Co (JPM.N), has hired advisers to conduct a strategic review and plan a 2 billion pound ($2.55 billion) sale of the company, Sky News reported on Tuesday.

An auction of the electricity distribution firm could be held in the next few months, with the review being handled by bankers at Citi, Sky News said.

Electricity North West was previously part of the United Utilities Group (UU.L) and is also owned by Colonial First State, a division of the Commonwealth Bank of Australia (CBA.AX).

A spokeswoman for J.P. Morgan Asset Management declined to comment while Citi was not immediately available.

($1 = 0.7839 pounds)

Reporting by Noor Zainab Hussain in Bengaluru and Pamela Barbaglia in London; Editing by Bernard Orr

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