Wessex sold to Malaysian group
- From: Vol 3, Issue 4 (April 2002)
- Category: Companies
- Region: Europe
- Country: Malaysia and United Kingdom
- Related Companies: Azurix, Deutsche Bank, Dresdner Kleinwort Wasserstein (Dresdner Kleinwort Benson), First Aqua, JP Morgan, Merrill Lynch, Mott MacDonald, Royal Bank of Scotland, Schroder Salomon Smith Barney, Scottish Water, Southern Water, Wessex Water and YTL
Asian analysts have reacted positively to the acquisition of Wessex Water by YTL Power International in terms of the price and quality of assets, although some have expressed reservations about taking on Wessex’s debt.
The deal, described as the largest ever by a Malaysian enterprise, is expected to increase YTL Power’s post-tax profits by around €35 million and earnings per share by 24%. The value of its pro forma fixed assets could also rise sharply from just over €820 million to €2.3 billion.
Tan Pye Sen, institutional equities vice-president for JP Morgan ...
Subscription required
To read this full article you must be subscribed to Global Water Intelligence.
Subscribe Now, Sign up for a Free Trial or Log In
