United Utilities Group PLC
14 June 2010
UNITED UTILITIES AGREES TO SELL ITS PRINCIPAL UK AND EUROPEAN NON-REGULATED
WATER INTERESTS
United Utilities today announces that it has agreed to sell its principal
non-regulated water interests* in the United Kingdom and Europe to Veolia Water
UK PLC. The transaction value is £174.2 million, comprising £108.6 million in
cash on completion and £65.6 million in net debt assumed by the purchaser. A
further £10 million in cash is payable on a deferred basis, subject to certain
contingencies.
Completion of the transaction is expected in the second half of 2010 and is
subject to a number of consents and regulatory approvals. United Utilities
expects to retain the proceeds within the group.
United Utilities contacts:
Gaynor Kenyon, Communications Director +44 (0)7753 622282
Darren Jameson, Head of Investor Relations +44 (0)1925 237033
James Bradley / Tom Murray, Tulchan Communications +44 (0) 20 7353 4200
Notes
*United Utilities' principal non-regulated water interests include:
* its 57.8% holding in Sofiyska Voda AD in Bulgaria;
* its 26.5% holding in AS Tallinna Vesi in Estonia;
* its 33.2% holding in Aqua Spolka Akcyjna in Poland;
* its stake in the 2010-15 capital management contract with Southern Water;
* its stake in the capital delivery contract with Southern Water to manage
the design and build of a new wastewater treatment works in the Brighton
and Hove area;
* its UK industrial solutions business; and
* three Scottish private finance initiatives (33.33% of Catchment Moray
Holdings Limited, 33.33% of Catchment Tay Holdings Limited and 50.0% of
Catchment Highland Holdings Limited) and associated operations contracts.
D