UK CMA To Consider Pennon Group's Acquisition Of Bristol Water

The U.K. Competition and Markets Authority said Friday that it is considering whether acquisition by Pennon Group of Bristol Water Holdings UK Limited could cause a substantial lessening of competition.

The CMA is inviting comments from any interested party by October 1.

In June 2021, Pennon Group had announced the acquisition of Bristol Water Group for an enterprise value of 814 million pounds, including assumed debt.

Pennon acquired Bristol Water from its indirect shareholders including infrastructure funds advised by iCON Infrastructure LLP, who owns 80% of the shares, and ITOCHU Corporation, owning 20%, for an equity value of 425 million pounds.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Royal Caribbean Group's ultra-luxury brand Silversea Cruises is set to launch the world's first hybrid-powered cruise ship in the summer of 2023. This will also be the first ship with large-scale fuel cell technology to enable emission-free port operations. The fuel cells will provide 100% of power while at port. Affco USA is recalling around 24,461 pounds of frozen raw lamb shoulder products that were not presented for import re-inspection into the U.S., the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. The recall involves the frozen raw lamb shoulder items that were imported on July 12, 2021. American Express Company (AXP) reported an increase in profit for the third quarter that also topped Wall Street estimates. Consolidated total revenues net of interest expense rose 25 percent year-on-year, primarily reflecting growth in Card Member spending, as well as a rise in the average discount...
Follow RTT