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RWE Sells Thames Water To Australian-Led Consortium
Essen (AFP) Oct 17, 2006 RWE, the second-biggest power supplier in Germany, said late Monday that it has agreed to sell its British water utility Thames Water to a consortium headed by Australian bank Macquarie. The purchase price amounted to 4.8 billion pounds (7.2 billion euros, 8.9 billion dollars), RWE said in a statement. But with Thames Water's net debt totalling 3.2 billion euros, the transaction was valued at a total 8.0 billion pounds or 11.9 billion euros, the statement said. Purchaser is Kemble Water Ltd, a consortium led by Macquarie's European Infrastructure Funds, RWE said. The transaction was still subject to the necessary regulatory approval and was expected to be completed by early December, RWE said. "The divestiture of Thames Water is a major milestone in our strategy of focussing on our core strengths and concentrating on the converging European electricity and gas markets," said RWE chief executive Harry Roels. Reading-based Thames Water is the largest water and sewage service provider in Britain, supplying drinking water to eight million people and sewage services to 13 million customers.
Source: Agence France-Presse Related Links Water, Water Everywhere and Not A Drop To Drink...
Kazakhs Fear Death Sentence For Another Giant Lake
Balkhash, Kazakhstan (AFP) Oct 15, 2006Lake Balkhash, Central Asia's second largest lake, could meet the same fate as the devastated Aral Sea as heavy metals seep into its once pristine waters and nearby China diverts more and more water, environmentalists warn. In the town of Balkhash, 500 kilometres (310 miles) west of the Chinese border on the shores of the lake, environmental damage is already evident. |
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