Arcapita sells water company
South Staffordshire Water is now owned by Alinda Infrastructure Fund.
Bahrain-based investment firm Arcapita Bank has sold UK water company South Staffordshire Plc to Alinda Infrastructure Fund for an undisclosed amount.
The deal is the latest of many within the UK utilities sector. In early October 2007, a consortium of infrastructure funds led by JP Morgan Chase purchased Southern Water from Royal Bank of Scotland for £4.2 billion including debt. Whilst in 2006, Australia-headquartered Macquarie set a new benchmark for UK utilities when it acquired Britain’s largest water company, Thames Water.
In 2006, Arcapita paid £1.6 billion for Northern Ireland’s electricity supplier Viridian. The company also has a stake in Zephyr, Britain’s biggest wind energy provider.
South Staffordshire Water has ranked in the top three of water and sewerage regulator Ofwat’s performance assessment for the past seven years. It also has 99.97% compliance with EU water quality standards.
By Natasha Piscitelli
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Fred Goodwin ex senior director of The Royal Bank of Scotland should lose his pension. He hasn’t done well for his company and should suffer the consequences. Should the senior director for any company not be held responsible? Letting him get away with such a big pension is ludicrous.
March 3rd, 2009 at 9:37 pm