Oct 30 (Reuters) - Electricity North West NRWETY.UL , which is owned in part by the asset management arm of JPMorgan Chase & Co (NYSE:JPM) 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 https://news.sky.com/story/jpmorgan-sparks-2bn-sale-of-electricity-distribution-giant-enw-11539957.
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)