Changes of financial owners in the water industry

Ofwat notice (10 pages, PDF) that no further licence changes are required as a result of Deutsche Bank's acquisition of Sutton and East Surrey Water from Terra Firma.

Separately it has been announced (3 pages, PDF) that the Hastings Australian infrastructure fund that owns Mid Kent Water has purchased South East Water from Macquarie Bank. It intends to seek the Competition Commission's permission under the water mergers provisions to merge the two businesses; this will probably require it to identify benefits of the merger that justify any prejudice to Ofwat's ability to make comparisons between water enterprises.

Ongoing auctions for Anglian Water and Thames Water are continuing. Terra Firma and Macquarie (which are now free of water mergers issues) are in the bidding for Thames.

For further information or advice please contact Franck Latrémolière.

Filed under Merger control, Ofwat, Water.

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