Southern, but without the comfort
- From: Vol 8, Issue 6 (June 2007)
- Category: General
- Region: Europe
- Country: Qatar
- Related Companies: AWG, DE Shaw, Deutsche Bank, First Aqua, Fitch, Goldman Sachs, Kelda, Merrill Lynch, Ontario Teacher’s Pension Fund, Pennon, Perry Capital, Royal Bank of Scotland, Southern Water, Terra Firma, Thames Water and Veolia
The parties bidding for Southern Water will have to deal with gearing of 95% and a potential purchase price exceeding 140% of the company’s RAV.
Royal Bank of Scotland put Southern Water up for sale at the beginning of June to cash in on the record prices that infrastructure funds and other financial investors are currently prepared to pay for UK water companies.
As the shares of two of the remaining quoted companies in the sector – Pennon and Kelda – shot up by 10% in less ...
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