Westpac taps into UK water utility
(4 October 2006 – UK) The Westpac owned Hastings Diversified Utilities Fund has bought UK water utility South East Water.
This follows last year’s purchase of Mid Kent Water, which it is expected to merge with South East Water if approved by regulators.
South East Water serves some 1.4 million British households.
Hastings said it would sink about A$230 million of equity, preferred equity and shareholder loans into the deal which has South East Water valued at about A$1.664 billion.
South East Water serves some 1.4 million British households.
Hastings said it would sink about A$230 million of equity, preferred equity and shareholder loans into the deal which has South East Water valued at about A$1.664 billion.
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