FINANCIAL NEWS

Kuwait-led Longriver Partners offer USD8.2b for UK’s Severn Trent

09 Jun 2013

(MENAFN) LongRiver Partners consortium stated that it increased its offered figure to buy Severn Trent to USD8.2 billion, reported Arabian Business.

The consortium is led by a Kuwaiti sovereign wealth fund; the Kuwait Investment Office, and two pension companies; Britain’s Universities Superannuation Scheme and Canadian Borealis Infrastructure.

Severn Trent had previously rejected a lower offer by the consortium but is expected to view the new offer favourably.

It is worth noting that Severn Trent plc is a UK water company comprising of a group of companies employing more than 15,000 people across the UK, US and mainland Europe, with some involvement in the Middle East.

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