712 articles in United Kingdom
UK: Following recent market rumours about the future of International Water Limited (IWL), GWI contacted Bechtel to get the full story.
There are concerns that the newly floated Northumbrian Water Group could struggle to raise capital cost-effectively following a downgrading of its debt.
United States: Brian Chase joined the San Francisco office of Nossaman Guthner Knox & Elliott.
The Northumbrian deal has enabled Suez to further reduce its debt burden.
While stories about the industry’s preference for highly geared debt structures have made all the headlines in recent months, water company business managers have been quietly getting on with the task of preparing for the next periodic review.
Since last month’s flotation of Northumbrian Water Group, the London Stock Exchange offers a choice of six water-related investment vehicles. Although each faces the same regulatory regime in its core water business, the difference lies in their non-water interests and their financial structure. The alternatives offered to investors are as follows:
Can the companies really become more efficient?
AWG rejected an improved offer from WestLB last month, citing concerns over the German bank’s ownership of Mid Kent Water.
France: Vivendi Environnement announced its new name. The company is now called Veolia Environnement (still VE for short) after the mythological character Aeolus – keeper of the winds.
A plan to refloat the company on the stock exchange has emerged.