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BlackRock, Inc.&nbsp;BLK shares are&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37574722/remote-work-is-boosting-labor-market-participation-economic-growth-acknowledges-blackrocks-rick-" rel="noreferrer noopener">trading lower on Thursday</a>.&nbsp;



The company, alongside Singaporean sovereign wealth fund GIC Pte, is reportedly considering selling a U.K. gas pipeline network valued at around $2 billion, Bloomberg&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-03-14/blackrock-gic-said-to-consider-sale-of-uk-cats-pipeline-owner?cmpid=socialflow-twitter-business&amp;utm_campaign=socialflow-organic&amp;utm_medium=social&amp;utm_source=twitter&amp;utm_content=business&amp;sref=TBDibEcD" rel="noreferrer noopener">reported</a>, citing people familiar with the matter.



The owners, in collaboration with investment bank Jefferies Financial Group Inc., are seeking potential buyers for Kellas Midstream, the report read.



The company possesses a pipeline network, encompassing the 404-kilometer (251-mile) Central Area Transmission System, facilitating the transportation of gas from the North Sea to the U.K.



Infrastructure funds and financial investors are anticipated to show interest in the business, seeking exposure to the sector.



A formal sale process has not yet commenced, and discussions are at an early stage, according to sources, Bloomberg added.&nbsp;



The owners may opt to retain the asset if suitable buyers are not found, the report stated.



In 2019, a BlackRock infrastructure fund and GIC acquired Kellas from Antin Infrastructure Partners.



Recently, BlackRock and Morgan Stanley investment funds agreed to purchase&nbsp;TC Energy Corporation&#8216;s TRP Portland Natural Gas Transmission System<a target="_blank" href="https://www.benzinga.com//node/37529189" rel="noreferrer noopener">&nbsp;for approximately $1.14 billion.</a>



Price Action:&nbsp;BLK shares are trading lower by 2.87% to $802.26 on the last check Thursday.



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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BlackRock shares are trading lower on Thursday. The company, alongside Singaporean sovereign wealth fund GIC Pte, is reportedly considering selling a U.K. gas pipeline network valued at around $2 billion.

Why BlackRock Shares Are Falling Today - BlackRock (NYSE:BLK)

Nabaparna Bhattacharya

BlackRock

TC Energy

BlackRock shares are trading lower on Thursday. The company, alongside Singaporean sovereign wealth fund GIC Pte, is reportedly considering selling a U.K. gas pipeline network valued at around $2 billion.

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