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Southwest Water succumbs to private equity buy-out

Southwest Water Company is to be bought by JP Morgan Asset Management and Water Asset Management LLC for a total enterprise value of $427 million, marking the largest public-to-private deal in the US investor-owned water utility sector since 2003.

SWWC shares rose by 47% on news of the deal, which values each share at $11.00 – a 56% premium to ...

Acciona Agua set to double its revenue flows by 2013

Acciona Agua’s revenues grew by 19% in 2009 to reach €438 million (39% of which was generated outside Spain), although EBITDA slipped from €40 million to €35 million, despite the company winning a series of headline contracts last year.

Revenue flows from the new contract awards will aid Acciona Agua in its bid to double revenues to €950 million ...

American Water shares fall on weak 2010 EPS guidance

American Water’s shares were marked down by 5% on 1st March after the company failed to hit the market’s Q4 EPS consensus, and simultaneously initiated ultra-conservative earnings guidance for 2010.

Excluding goodwill impairment charges, American Water generated net income of $209.9 million in 2009 (+19.2%) on revenues of $2.4 billion (+4.4%), resulting in earnings ...

Seasonal tariffs may help combat severe water stress

Southern Water will start installing new water meters in its service area in June, giving it the possibility to introduce seasonal drinking water tariffs in the event of drought. Under the new plans, users would pay 6% more than the standard rate from June-September, and 2% less from October to May (£0.922p/m3 and £0.999p/m3, respectively).

Southern ...

IDE revives IPO plans following Hadera commissioning

Investors could soon get their hands on a chunk of Israeli desalination specialist IDE Technologies, if joint owners Delek Group and Israel Chemicals succeed in a renewed push to float off 25% of the company.

A previous attempt at a London IPO failed in 2007, but IDE has come a long way since then, more than doubling its revenues to ...

Suez Environnement commits to renewed growth in 2010

Suez Environnement’s shares beat a falling CAC 40 on the back of solid full-year results today, which showed revenues up by 0.6% to €12.3 billion. Despite a higher than expected contribution from the Compass cost-cutting programme, however, a poor performance in the waste division led to a 1.2% drop in EBITDA to €2.06 billion.

The ...