Severn Trent Plc has completed the sale of its Water Purification business to Italian-headquartered company Industrie De Nora on 2 July 2015.
Severn Trent and De Nora have been partners since 2002 in a successful Joint Venture, Severn Trent De Nora, which specialises in electrochemical processes for water and waste water treatment for the municipal, onshore and offshore energy and marine sectors. The entity, Severn Trent De Nora, is part of the transaction.
The group’s share of £50.8 million (US$ 81.2 million) has been settled through a cash payment of £12.6 million ($ 20.1 million) and the settlement of net intercompany debt.
Through its operations in the USA, Europe and Asia, the Water Purification business is a global player in the water treatment products industry focused on electrochlorination, disinfection and filtration.
Severn Trent Plc took the decision to sell after it recently reorganised and brought together its remaining non-regulated businesses into a new ‘Business Services’ division. The sale will allow the firm to focus on its core water and waste water service businesses in the UK and abroad.
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