iCON Infrastructure: Sale of the Sutton and East Surrey Water Group (“SESW Group”)

  iCON Infrastructure: Sale of the Sutton and East Surrey Water Group (“SESW
  Group”)

Business Wire

LONDON -- February 4, 2013

Aqueduct Capital (UK) Limited (“Aqueduct”) announced today that it has agreed
to sell the SESW Group to Sumitomo Corporation for a consideration of £164.5
million.

The SESW Group comprises Sutton and East Surrey Water plc (“SESW”), a
regulated water supply company serving 655,000 customers in the South East of
England, as well as a number of complementary associated businesses and
property interests. Aqueduct is owned by infrastructure funds advised by iCON
Infrastructure LLP, pension funds managed by the Public Sector Pension
Investment Board and pension, endowment and government funds managed by
Alberta Investment Management Corporation.

Anthony Ferrar, Managing Director of SESW, said:

“Aqueduct is leaving SESW well positioned for the future after several years
of ownership during which time the team at SESW has enjoyed and benefited from
their strong support. We are delighted to welcome Sumitomo Corporation and are
looking forward to working with them to continue to achieve our objectives of
delivering high quality water, long-term security and customer service in an
efficient manner.”

Paul Malan, Senior Partner of iCON Infrastructure LLP, said:

“We and our fellow shareholders are privileged to have been involved in the
SESW Group over the past seven years. During this time, we have tremendously
enjoyed working with the excellent team to achieve outstanding outcomes for
all of its stakeholders, including successfully delivering on a substantial
investment program which positions the company well for the future. We are
pleased to be able to pass ownership of the SESW Group to a new owner of the
strength and reputation of Sumitomo Corporation, with its high aspirations for
this critical business, its people and its customers.”

Citigroup Global Markets Limited and Freshfields Bruckhaus Deringer LLP
advised Aqueduct and its shareholders in relation to the sale.

Notes to Editors:

The SESW Group comprises Sutton and East Surrey Water plc, a regulated water
only company serving 655,000 customers, over an area of 835 sq km in the South
East of England and employing 230 people as well as a number of complementary
associated businesses and property interests. In the year ended 31 March 2012,
the SESW Group achieved turnover of £68 million. Further information is
available at: www.waterplc.com.

iCON Infrastructure LLP is an independent investment firm focused on
investments in core infrastructure across Europe and North America. It was
formed by a team of infrastructure investment specialists spun-out from
Deutsche Bank which has been responsible for over €2.5 billion of investment
in infrastructure since its establishment in 2004. Investments owned by iCON
Infrastructure’s funds include interests in The Porterbrook Partnership, CLH
and Mountaineer Gas Company. iCON Infrastructure’s investment partners include
globally recognised pension funds, asset managers and insurance companies.
Further information is available at: www.iconinfrastructure.com

The Public Sector Pension Investment Board (“PSP Investments”) is one of
Canada’s largest pension investment managers, with approximately $68 billion
of assets under management as at 30 September 2012. PSP Investments invests
funds for the pension plans of the Canadian Federal Public Service, the
Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. It
manages a diversified global portfolio including stocks, bonds and other
fixed-income securities, and investments in Private Equity, Real Estate,
Infrastructure and Renewable Resources. Further information is available at:
www.investpsp.ca

Alberta Investment Management Corporation (“AIMCo”) is one of Canada’s largest
and most diversified institutional investment fund managers, with an
investment portfolio of approximately $70 billion. AIMCo invests globally on
behalf of its clients, 28 pension, endowment and government funds in the
Province of Alberta, Canada. Further information is available at:
www.aimco.alberta.ca

Citigroup Global Markets Limited, which is authorised and regulated in the UK
by the Financial Services Authority, is acting for Aqueduct Capital (UK)
Limited and its shareholders and no-one else in connection with the sale of
the SESW Group and will not regard any other person as a client in relation to
the sale and will not be responsible to anyone other than Aqueduct Capital
(UK) Limited and its shareholders for providing the protections afforded to
its clients or for providing advice in relation to the sale or any matters
referred to in this statement.

Contact:

iCON Infrastructure LLP
Henry Columbine/George Parrett (Redleaf Polhill)
+44 20 7566 6727
icon@redleafpolhill.com
or
Sutton and East Surrey Water plc
Anthony Ferrar
+44 (0)1737 772000
or
Citigroup Global Markets Limited
Simon Lindsay/Sian Evans
+44 (0)20 7986 4000
 
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