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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