U.K. Utility Sutton Water Acquired by Sumitomo for $259 Million

Sutton & East Surrey Water Plc, a utility based in southeastern England, has been sold to the Japanese trading firm Sumitomo Corp. (8053) for 164.5 million pounds ($259 million), owner Aqueduct Capital Ltd. announced today.

Anthony Ferrar, managing director of SESW, said in a statement that “we are delighted to welcome Sumitomo Corp. 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.”

Nomura acted as a financial adviser to Sumitomo on the SESW deal, Becca Daniel, a Nomura spokeswoman, confirmed in an e-mail from London. The holding company Aqueduct is owned by infrastructure funds advised by iCON Infrastructure, pension funds managed by Canada’s Public Sector Pension Investment Board and Alberta Investment Management Corp.

The Sunday Times said Jan. 27 that China’s Beijing Water Authority was poised to buy the Redhill-based utility. SESW serves 655,000 customers in east Surrey, West Sussex, west Kent and south London.

To contact the reporter on this story: Randall Hackley in London at rhackley@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.