REG - Bazalgette Finance Bazalgette Tunnel Ld - Holding(s) in Company

Swiss Life Holding AGAnnouncement

01/06/2022 11:00

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RNS Number : 5556N  Bazalgette Finance PLC  01 June 2022

1 June 2022

 Bazalgette Finance plc

CONSOLIDATION OF OWNERSHIP ARRANGEMENTS OF TIDEWAY

Bazalgette Finance plc confirms that subject to third-party approvals there
will be a consolidation of ownership of the Bazalgette group of companies
including Bazalgette Tunnel Ltd which trades as Tideway.

 

DIF Capital Partners has announced its intention to divest its 10.66 per cent
stake in Tideway, which will be acquired by the company's other existing
shareholders, an affiliate of Allianz Capital Partners, Dalmore Capital and
two Amber Infrastructure-related entities (International Public Partnerships
and Swiss Life Asset Managers). The transaction has come about as one of DIF's
underlying investment funds is coming to the end of its fund life.

 

Notes:

 

1.   Tideway is building the Thames Tideway Tunnel, a 25km-long sewer tunnel
which is due to become operational in 2025. The tunnel will dramatically
improve the water quality of the river Thames by tackling overflows from
London's existing sewer system. The company recently announced that it had
successfully completed the tunnelling phase of the project.

 

2.   Related announcements have been issued by two of the existing Tideway
shareholders, DIF Capital Partners and International Public Partnerships
Limited.

DIF Capital Partners announcement
(https://www.dif.eu/news/dif-capital-partners-to-divest-its-stake-in-the-thames-tideway-tunnel-project/)

INPP announcement
(https://www.londonstockexchange.com/news-article/INPP/further-investment-into-tideway/15477360)

 

3.   The Bazalgette group of companies comprise Bazalgette Equity Limited,
Bazalgette Holdings Limited, Bazalgette Ventures Limited, Bazalgette Tunnel
Limited and Bazalgette Finance plc.  More information on the Bazalgette group
company structure and existing ownership arrangements is available on the
Tideway website: www.tideway.london

 

For further information, please contact:

 

investor.relations@tideway.london

press@tideway.london

Taylor Geall

07813 450 682

Bazalgette Finance plc

Cottons Centre

Cottons Lane

London

SE1 2QG

 

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