Deutsche pays £189 million for Sutton

The price for the small water-only company is 30% more than the regulated asset value. It is a sellers’ market.

The UK water sector received further confirmation that its companies remain a compelling investment when a fund owned by Deutsche Bank paid £189 million for Sutton and East Surrey Water at the end of the year – a premium of more than 40% to the regulated asset value of the business.

The Deutsche fund bought Sutton and East Surrey from Guy Hands’ Terra Firma group, which...

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