Thames Water sold in €11.3 billion deal
- From: Vol 1, Issue 10 (October 2000)
- Category: Companies
- Region: Europe
- Country: Germany
- Related Companies: Allianz, American States Water, Berlinwasser, California Water Service Co (Cal Water), Electricidade de Portugal, Eon, Ionics, RWE, Saur/Bouygues, Southwest Water Company, Thames Water and Veolia Environnement (formerly Vivendi Environnement)
German multi-utility RWE has acquired Thames Water in an €11.3 billion deal to achieve its target of becoming one of Europe’s three top water companies. Thames will keep its name and operate within the RWE group as Thames Water, a division of RWE. The company will be based in London and headed by Bill Alexander, current chief executive of Thames Water. RWE sees the acquisition of Thames as an important springboard for entry into the US water services market.
The Essen company is paying £12.15 per Thames Water share, a premium of 42.9% on last month’s average share price of £8.50 and a 32.8% increase on the closing price of £9.15 on 19 September, the day before Thames announced that takeover discussions were at an advanced stage. RWE is assuming €3.1 billon ...
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