Business
United Utilities agrees to sell stake in Meter Fit
United Utilities agrees to sell stake in Meter Fit.
About this update from United Utilities Group Plc
[{"type":"text","content":"\n \nUnited Utilities Group PLC\n\n30 July 2010\n\n UNITED UTILITIES AGREES TO SELL ITS STAKE IN METER FIT \n\nUnited Utilities today announces that it has agreed to sell its 50 per cent\nholding in its non-regulated gas and electricity meter ownership business,\nMeter Fit*, to its existing joint venture partner, Marlin Acquisitions Limited*\n*. The transaction value is approximately £119 million, comprising £24 million\nin cash and £95 million in net debt assumed by the purchaser. Completion of the\ntransaction is expected in the second half of 2010 and is subject to a number\nof consents.\n\nSince November 2009, United Utilities has now agreed non-regulated disposals\nfor a total enterprise value of approximately £600 million.\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*Comprises Meter Serve (North West) Limited and Meter Serve (North East)\nLimited\n\n**Marlin Acquisitions Limited is controlled by Infracapital Partners LP, a\nlimited partnership managed by M&G Investment Management Limited which is a\nsubsidiary of Prudential PLC\n\n\n \n ","length":1548,"tagName":"div"}]