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Company News
Tuesday, 09 October 2007 00:00

Southern Water sold to J P Morgan group

JP Morgan Asset Management, together with Australian Challenger Infrastructure Fund, has bought Southern Water from owners Royal Bank of Scotland for ₤4.2 billion.

Ofwat has appointed a new water and sewerage company – the first new company to offer both services since privatisation – by granting its twelfth inset appointment.

In its newly published position paper into the change of ownership of Sutton and East Surrey Water, Ofwat has concluded that there are no significant regulatory issues arising from the sale of Deutsche Bank's stake in Aqueduct Capital UK Ltd (ACUK).

Wednesday, 01 August 2007 00:00

Ongoing Pennon Group takeover rumours

Rumours still persist in the marketplace about a possible takeover bid for Pennon Group, owner of South West Water by the Spanish Group Aguas de Barcelona who own Bristol Water. Pennon share price closed 1.6% higher yesterday.

According to reports in The Telegraph, Goldman Sachs is preparing a £4 billion takeover bid for privately-owned utility Southern Water.

The Consumer Council for Water in the Western region has called for Bristol Water to demonstrate how it is delivering value for money to customers, as the water company announced its annual financial results.

Monday, 04 June 2007 00:00

Southern Water up for sale

Royal Bank of Scotland (RBS) has put their water utility Southern Water up for sale for around £4 billion sources announced on Sunday.

Thursday, 31 May 2007 00:00

United Utilities will de-list from NYSE

United Utilities has announced plans to remove itself from the New York Stock Exchange and de-register from the US Securities and Exchange Commission –in order to reduce compliance costs.

Ofwat today published for consultation its proposal to fine United Utilities Water £8.5 million for non-compliant trading arrangements with associate companies.

Wednesday, 04 April 2007 00:00

Severn Trent announces 600 job cuts

Water Authority Severn Trent revealed yesterday that it will be cutting 600 jobs over the next five years.

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