Affinity Water to be sold for £1.6bn

A water company that supplies around 3.6 million homes and businesses in the UK is being sold for £1.6 billion. Morgan Stanley Infrastructure and Infracapital announced the sale to a […]

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By Priyanka Shrestha

A water company that supplies around 3.6 million homes and businesses in the UK is being sold for £1.6 billion.

Morgan Stanley Infrastructure and Infracapital announced the sale to a consortium which includes Allianz Capital Partners, HICL Infrastructure Company Limited and DIF Infrastructure.

Under the deal, the consortium will get a 90% stake from the co-owners of the water supplier – which provides an average of 900 million litres of water every day – for £687 million.

It will get the remaining 10% share from waste management firm Veolia.

Both transactions are expected to be completed this month.

Simon Cocks, CEO of Affinity Water said: “As a business we will continue to operate as normal, focused on achieving our strategic objective to become the leading community focused water company in the UK.

“We look forward to welcoming our new investors to the company and continuing to deliver our enhanced business plan for our customers.”