Business
Severn Trent Response to Ancala Announcement
Severn Trent Response to Ancala Announcement.
About this update from Severn Trent Plc
[{"type":"text","content":"\n \nRNS Number : 4588R Severn Trent PLC 09 December 2016 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.\n \nFOR IMMEDIATE RELEASE\n \n9 DECEMBER 2016\n \nRECOMMENDED ACQUISITION\nof\nDEE VALLEY GROUP PLC\nby\nSEVERN TRENT WATER LIMITED\n \nResponse to summary opinion of Employee Forum on recommended acquisition and Ancala comment on that opinion\n \nSevern Trent notes the publication of the summary opinion of employee representatives and recognised trade unions on the recommended acquisition of Dee Valley by Severn Trent and the Ancala response to that opinion. \nSevern Trent has carried out detailed economic analysis which shows that the acquisition of Dee Valley will not prejudice the ability of Ofwat to make comparisons between water enterprises. This is the only question that the CMA is entitled to consider when assessing the impact of the acquisition. Therefore, on the basis of the evidence that Severn Trent has shared with the CMA and Ofwat, Severn Trent is highly confident of achieving CMA clearance in Phase I and has already removed the voluntary condition for CMA Phase I clearance from its Revised Offer as a demonstration of its confidence.\nSevern Trent believes it will be the best supportive long term owner of Dee Valley as the local water business for its area and will bring its expertise and financial strength to support the business, its customers, employees and pensioners. \nSevern Trent believes that the Acquisition would provide a very successful outcome for the customers of Dee Valley. Severn Trent is committed to keeping customers at the heart of its business and plans to build on Dee Valley's great customer service through enhancing the customer service offering by extending support and, in due course, service hours, and through the application of Severn Trent's digital philosophy. \nSevern Trent attaches great importance to the skills, operational experience and technical expertise of the employees of Dee Valley. Severn Trent very much believes in creating a winning culture that incentivises employees to deliver the best outcome for customers. Severn Trent w...