UK water market’s affinity with ROFO clauses withers

Right-of-first-refusal clauses could be limiting interest in UK regulated water assets. The sale of Affinity Water is likely to be different.

The owners of Affinity Water have taken a further step towards selling up by appointing Citigroup to conduct a strategic review of the business.

The move is widely seen as a precursor to launching a sale process, as Citi handled the last formal auction of a UK water-only company – that of Sutton & East Surrey Water to Japan’s Sumitomo Corp in 2013 – and the US bank’s...

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