UK water suppliers Anglian and Northumbrian explore sale of JV - Sky News (updated)

New Wave Holdings

06/07/2023 13:49

(Adds background on British water companies in paragraph 2&3,
details on deal in paragraph 5)
       July 6 (Reuters) - British water companies Anglian Water
Group and Northumbrian Water Group are exploring a sale of their
joint venture Wave, Sky News reported on Thursday.
    Water companies in the country are facing scrutiny after
Britain's largest water supplier Thames Water said last month it
was seeking an equity raise to cope with rising costs and debt
to avoid public ownership. 
    Water regulator Ofwat said on Wednesday Thames Water was a
long way from needing emergency intervention, despite investor
reluctance to put in more money into the ailing firm. 
    Anglian and Northumbrian did not immediately respond to
Reuters' request to comment on their sale plans. 
    The identity of the bidders was unclear, while the price
that a buyer might pay could not be ascertained, the Sky News
report added.
    Wave, founded as a 50-50 partnership in 2017, provides water
and wastewater services to over 300,000 businesses in England
and Scotland, according to the company's official website.
    
    

 (Reporting by Prerna Bedi in Bengaluru; Editing by Shinjini
Ganguli)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616))