By Lars Mucklejohn Australian asset manager Macquarie is exploring a sale of part of its stake in Cadent alongside another shareholder worth a combined £1.3bn as the UK gas network readies for the renewable energy transition. A source close to the process told City A.M. that Macquarie was looking at selling nearly five per cent of its stake in Cadent, which runs around half of Britain’s local gas distribution networks. The firm currently has a 26 per cent stake in Cadent and is in talks with fellow shareholder Federated Hermes, which the source said was trying to offload 4.6 per cent of its 13…