Macquarie buys majority stake in Southern Water
Macquarie has acquired a majority stake in Southern Water for in excess of GBP1 billion. The acquisition by Macquarie in the water supplies and sewage treatment company will dilute the stake of existing shareholders which include PE firms, banks and infrastructure funds. Head of Macquarie Infrastructure and Real Assets has said that Southern Water “needs significant investment to improve its operational and environmental performance and financial health. Without it, the business will be unable to fulfill its expectations.” The investment comes a few weeks after Southern Water was fined GBP 90 million for deliberately dumping raw sewage in rivers and seas.
Source: https://www.ft.com/content/36e18def-3ecf-4810-8ca9-2f316f6a7bbd
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