Cost of household water bills in UK set to drop by £20 over next five years December 12, 2014 The cost of water bills for households in England and Wales is set to fall by an average five per cent over the next five years, under a new rule being introduced by industry regulator Ofwat. Before adjustments for inflation, average bills received by home owners across the two countries will fall to £376 [...]
Waste water treatment deal for Gibraltar October 6, 2014 The government of Gibraltar has appointed a joint venture between Northumbrian Services and Modern Water to construct a new waste water treatment plant. Modern Water is lead contractor on the design and build of the plant with a current contract value of around £22m, which is higher than the firm’s market cap of £21.7m.
UK wind fund blows onto LSE in £205m float February 6, 2013 INFRASTRUCTURE fund Greencoat UK Wind is hoping to raise at least £205m through a government-backed float that will jettison it to the main London market. Managed by Greencoat Capital, the fund has bought interests in six wind farms from utility firms SSE and RWE. Closed-end investment company Greencoat, which will be fully invested from launch, [...]
Superman’s utility stakes stretch across the country July 25, 2012 Northumbrian Water Group Stake 100 per cent Area covered 12,260 sq km People served 4.4m Northern Gas Networks Stake 88 per cent Area covered 25,000 sq km People served 6.7m UK Power Networks Stake 100 per cent Area covered 29,000 sq km People served 8m Southern Water Stake 4.75 per cent Area covered 4,450 sq [...]
Billionaire Li Ka Shing snaps up Wales & West July 25, 2012 BILLIONAIRE business magnate Li Ka Shing grabbed another slice of the UK’s utility infrastructure network yesterday by snapping up gas distribution firm Wales & West Utilities (WWU). Li, estimated to be the richest man in Hong Kong and ninth richest in the world, will take control of WWU through a consortium owned by his holding [...]
OBITUARY: SIR DEREK WANLESS May 29, 2012 SIR Derek Wanless, a former chief executive of Nat West and director of Northern Rock at the time of its collapse, has died aged 67. Wanless, the son of a storeman at a Tyneside cement works, was born on 29 September 1947. His talent as an arithmetician saw him win a scholarship to Newcastle’s Royal Grammar School. [...]
CKI to buy Northumbrian Water for £2.4bn August 2, 2011 A consortium led by Hong Kong tycoon Li Ka-shing’s Cheung Kong Infrastructure Holdings has agreed to take over Northumbrian Water Group in an all-cash deal which values the British utility at about £2.41bn. In the biggest takeover this year of a British listed company, CKI said the consortium is offering to acquire Northumbrian at 465 [...]
CKI to buy Northumbrian Water for £2.4bn August 2, 2011 A consortium led by Hong Kong tycoon Li Ka-shing’s Cheung Kong Infrastructure Holdings has agreed to take over Northumbrian Water Group in an all-cash deal which values the British utility at about £2.41bn. In the biggest takeover this year of a British listed company, CKI said the consortium is offering to acquire Northumbrian at 465 [...]
Thames Water to get Chinese investment January 19, 2012 CHANCELLOR George Osborne’s visit to China appears to have paid dividends for UK companies, as sovereign wealth fund China Investment Corporation looks to buy a stake in Thames Water. CIC is understood to be poised to snap up a 10 per cent stake in Kemble Water, the holding company that owns the utility. Macquarie Bank [...]
Li Ka-Shing: the Superman who soared from the factory floor February 20, 2012 LI Ka-Shing, Hong Kong’s richest man and chairman of Cheung King Infrastructure, is one of the largest foreign investors in the UK following two major acquisitions over the past two years. Last year, the octogenarian billionaire snapped up Northumbrian Water for £2.4bn, in the largest takeover of a UK publicly listed company since Kraft bought [...]