Business
Announcement re Waste Management business
Announcement re Waste Management business.
About this update from Pennon Group Plc
[{"type":"text","content":"\n \nRNS Number : 6443H Pennon Group PLC 16 November 2018 \n\n \n16 November 2018\nPENNON GROUP PLC\nPennon Group consolidates further its Waste Management business\nJohn Laing Investments Limited, a joint venture partner with Viridor Waste Management Limited (Viridor) in the Runcorn I Energy Recovery Facility, has decided to sell its holding. Pennon Group Plc announces that today, its subsidiary Viridor has exercised its pre-emption rights and has agreed a £54.52m cash consideration for the 37.5% economic interest and 20% voting rights. \nThe acquisition will consolidate further Viridor's leading market position in UK Energy Recovery and will result in an increase to Pennon's economic interest in INEOS Runcorn (TPS) Holdings Limited from 37.5% to 75%, with the associated voting rights moving from 20% to 40%. \n \nFor further information, please contact:\nPennon: Susan Davy - Chief Financial Officer\nJennifer Cooke - Investor Relations Officer \n01392 443 168\n \nFinsbury: James Murgatroyd\nFaeth Birch\n0207 251 3801\n \n \nCautionary statement in respect of forward-looking statements\nCertain statements in this announcement are forward-looking statements relating to the Group's operations, performance and financial position based on current expectations of, and assumptions and forecasts made by, management. They are subject to a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of the Group to differ materially from any outcomes or results expressed or implied by such forward-looking statements. The Group's principal risks were described in the 2018 Pennon Group Annual Report which can be viewed online at http://annualreport.pennon-group.co.uk/. Such forward looking statements should therefore be construed in light of such risks, uncertainties and other factors and undue reliance should not be placed on them. They are made only as of the date of this announcement and no representation, assurance, guarantee or warranty is given in relation to them including as to their accuracy, completeness, or the basis on which they are made. No obligation is accepted to publicly revise or update these...