Business
Agreement to sell UK/European non-reg interests
Agreement to sell UK/European non-reg interests.
About this update from United Utilities Group Plc
[{"type":"text","content":"\n \nUnited Utilities Group PLC\n\n14 June 2010\n\n UNITED UTILITIES AGREES TO SELL ITS PRINCIPAL UK AND EUROPEAN NON-REGULATED \n WATER INTERESTS \n\nUnited Utilities today announces that it has agreed to sell its principal\nnon-regulated water interests* in the United Kingdom and Europe to Veolia Water\nUK PLC. The transaction value is £174.2 million, comprising £108.6 million in\ncash on completion and £65.6 million in net debt assumed by the purchaser. A\nfurther £10 million in cash is payable on a deferred basis, subject to certain\ncontingencies.\n\nCompletion of the transaction is expected in the second half of 2010 and is\nsubject to a number of consents and regulatory approvals. United Utilities\nexpects to retain the proceeds within the group.\n\nUnited Utilities contacts:\n\nGaynor Kenyon, Communications Director +44 (0)7753 622282 \n \nDarren Jameson, Head of Investor Relations +44 (0)1925 237033 \n \nJames Bradley / Tom Murray, Tulchan Communications +44 (0) 20 7353 4200 \n\nNotes\n\n*United Utilities' principal non-regulated water interests include:\n\n * its 57.8% holding in Sofiyska Voda AD in Bulgaria;\n \n * its 26.5% holding in AS Tallinna Vesi in Estonia;\n \n * its 33.2% holding in Aqua Spolka Akcyjna in Poland;\n \n * its stake in the 2010-15 capital management contract with Southern Water;\n \n * its stake in the capital delivery contract with Southern Water to manage\n the design and build of a new wastewater treatment works in the Brighton\n and Hove area;\n \n * its UK industrial solutions business; and\n \n * three Scottish private finance initiatives (33.33% of Catchment Moray\n Holdings Limited, 33.33% of Catchment Tay Holdings Limited and 50.0% of\n Catchment Highland Holdings Limited) and associated operations contracts.\n \n\n D\n\n\n \n ","length":2313,"tagName":"div"}]