Water company sale in UK ends acquisition chain

Sponsored by

LONDON, England, Oct. 4, 2011 -- Waterworks company South Staffordshire Plc has today acquired Cambridge Water for an undisclosed sum after the firm was bought by HSBC back in August.

As South Staffordshire Plc already owns South Staffordshire Water (SSW), the acquisition - unconditional at this stage - will be referred to the Competition Commission.

This purchase ends a long chain of market activity involving the companies, with Cambridge Water's parent firm Cheung Kong Infrastructure Holdings (CKI) selling the firm to HSBC two months ago.

The acquisition is expected to take six months to complete, during which time the two companies will continue to operate independently. A statement on South Staffordshire's website stated that no staff changes were planned as a result of the change in ownership.

Adrian Page, executive director of South Staffordshire, said: “Cambridge Water has sought and received assurances from us that the company will continue to be operated with a view to maintaining the current high standards of service delivery. South Staffordshire is concerned to protect the integrity of Cambridge Water, an objective shared by the local non-executive directors and the management of the company.”

Cambridge Water supplies drinking water to 310,000 people in the city of Cambridge and the surrounding area and is approximately a quarter of the size of SSW.

###

Sponsored by

RELATED PRODUCTS

TODAY'S HEADLINES

Innovative carbon-neutral wastewater treatment plant unveiled in California

The EPA recently joined the Bureau of Reclamation, California Energy Commission and Congressman Col. Paul Cook at the ceremonial start of Victor Valley Wastewater Reclamation Authority's carbon-neutral energy project located at ITS wastewater treatment facility in Victorville, Calif.

Scottish Water to spend £3.5 billion on infrastructure improvements

Utility Scottish Water will invest £3.5 billion investment over six years to improve drinking water supplies, wastewater discharge and water mains...

Conquering Everest’s water contamination problem

A Ball State University team from Indiana is working to bring clean drinking water to a small, isolated community in mountainous Nepal that lies in the middle of the heavily congested pathway to Mount Everest...

MD counties to undergo major six-year water, wastewater design project

Louis Berger has been awarded a $4-million, three-year contract with the Washington Sanitary Suburban Commission for a water and sewer design project focusing on financing water and sewer reconstruction programs and inspection and repair of critical water and sewer infrastructure.

FOLLOW US ON SOCIAL MEDIA