118 articles about "AWG"
The unsuccessful Southern Water bidders have bagged a bigger prize – with no rivals to unseat them this time.
Southern Water’s latest bond issue leaves potential purchasers with limited balance sheet flexibility. It could mean owner RBS gets less for the asset than it had bargained for.
The water sector recycled – courtesy of private equity.
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.
* Gelsenwasser has extended a concession contract with the German city of Castrop-Rauxel, giving it the exclusive right to use public rights of way for water supply pipelines for another 20 years.
Suez and Veolia witnessed spectacular share appreciation in 2006 – albeit for different reasons. Meanwhile, private equity interest in UK stocks means that valuations in the sector are now stretched to the limit.
* As the market digests the full implications of the Thames Water acquisition, and the deadline for the take-over of AWG by the Osprey consortium was extended again after only 65% of the target’s shares had been validly accepted by 9 November, the FSA laid down perhaps the most public warning yet in a discussion paper on the private equity market.
A Stern reminder: the water sector must face up to climate change.
The £2.25 billion agreed offer for AWG has left industry analysts scratching their heads as to how its sums add up.
When the money is hot, water boils.