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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.

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