South East Water test for Ofwat
- From: Vol 7, Issue 10 (October 2006)
- Category: General
- Region: Europe
- Country: United Kingdom
- Related Companies: BNP Paribas, Hastings Diversified Utilities Fund, Macquarie, Mid Kent Water, South East Water, Southern Water, Thames Water and Utilities Trust of Australia
In order to secure Thames, Macquarie has to sell South East Water to two Australian funds. The trouble is that they already own neighbouring Mid Kent Water. What will the regulator say?
The Hastings Diversified Utilities Fund (HDF) and the unquoted Utilities Trust of Australia (UTA) announced in early October that they intend to acquire 100% of South East Water, although the fact that the funds in question also own neighbouring company Mid Kent Water means the SEW deal faces an automatic referral to the Competition Commission.
While Ofwat has successfully opposed ...
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