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UU exits from Manila Water after 12 years

United Utilities has agreed to sell the bulk of its remaining economic interest in Manila Water Company to Ayala Corp. for PHP3.5 billion ($73 million). UU has been one of the key shareholders in MWC since its formation in 1997, and effected a partial exit through the 2005 IPO, which valued the shares at PHP6.50 each.

“This decision is about realising value from...

Brisbane in the QUU for higher water tariffs

First water was delivered on 2nd November from a new water authority in South East Queensland. States throughout Australia are implementing reforms to comply with the requirements of the National Water Initiative, and South East Queensland is looking to centralise water resource management under the new body.

Queensland Urban Utilities (QUU) has assumed responsibility...

ADB backs Western China water resource project

A pioneering $439 million water resource management project in Western China moved a step closer to fruition this week with the approval by the Asian Development Bank of a $150 million loan to the project. The Guiyang Integrated Water Resources Management Project has been heralded by the ADB as an exemplary model for other city governments in the region.

The project...

Chino Basin auction postponed as bidders take fright

The Chino Basin Watermaster has postponed the $60 million water auction it was due to hold on 4th November after potential bidders expressed concerns about accessing the water.

“We had enough applications from bidders,” Watermaster CEO Ken Manning explained, “but we had a number of people who were coming to us and voicing their concern about the...

Italian parliament waters down “privatisation” decree

Italy’s upper house of parliament has passed two amendments that alter new draft rules to limit the role of publicly-owned operators in the Italian water sector.

The first amendment relates to a new rule that would disallow “in-house” awards of water, waste or energy services contracts to companies owned by local municipalities, save in exceptional...

Bouygues advances its strategy to exit the water sector

French construction giant Bouygues has taken a further step towards exiting the water sector, selling 35.7% of its subsidiary Finagestion to Emerging Capital Partners for an estimated €13 million. ECP now owns 65% of Finagestion, which acts as a holding company for the group’s water and power activities in Senegal and the Ivory Coast. Bouygues intends to sell...