Business
United Utilities to sell interest in Manila Water
United Utilities to sell interest in Manila Water.
About this update from United Utilities Group Plc
[{"type":"text","content":"\n \nUnited Utilities Group PLC\n\n12 November 2009\n\n UNITED UTILITIES SELLS ITS ECONOMIC INTEREST IN \n MANILA WATER COMPANY \n\nUnited Utilities today announces that it has agreed to sell its 11.67 per cent\neconomic interest in Manila Water Company (MWC) to Ayala Corporation and\nPhilwater Holdings Company Inc, both existing shareholders of MWC, for a cash\nconsideration of USD73 million. On completion of the transaction, expected by\nthe end of 2009, United Utilities will reinvest approximately USD1.2 million in\nnew preference shares in Philwater Holdings Company Inc.\n\nUnited Utilities contacts:\n\nPhilip Green, Chief Executive +44 (0)1925 237000 \n \nTim Weller, Chief Financial Officer +44 (0)1925 237000 \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\n\n \n ","length":1548,"tagName":"div"}]