United Utilities (LSE:UU.), Britain’s largest listed water company, had entered into an agreement to sell its 100% owned subsidiary United Utilities Australia to a consortium led by Mitsubishi Corporation.
The deal will see the consortium pay A$176 million and assume A$49 million in debt, placing a value of A$225 million on the assets.
The consortium includes Mitsubishi Corporation, the Innovation Network Corporation of Japan, Manila Water Company and JGC Corporation.
United Utilities serves approximately 3.2 million premises and a population of approximately 7 million in the North West of England.
http://www.proactiveinvestors.co.uk/companies/news/16422/united-utilities-sells-australian-arm-for-a225-mln-to-mitsubishi-led-consortium-16422.html
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