Mitsubishi consortium takes UU Australia
- From: Vol 11, Issue 5 (May 2010)
- Category: General
- Region: Asia
- Country: Australia
- Related Companies: Ebara, JGC Corporation, Manila Water Company, Mitsubishi, United Utilities Australia and Veolia Water Solution & Technologies
United Utilities is close to exiting its international non-regulated business. The sale of its Australian arm is set to be followed by a wholesale exit from Eastern Europe.
United Utilities has agreed to sell its Australian arm to a Mitsubishi-led consortium for an enterprise value of A$225 million (US$203 million). The deal values the business at about 4.5 times revenues, and includes the assumption of A$49 million of net debt.
The sale follows the divestment of UU's minority stakes in Northern Gas Networks ...
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