East Anglia: Cheung Kong makes takeover approach for Essex & Suffolk Water owner Northumbrian Water
THE parent group of Essex & Suffolk Water today confirmed that it has received a takeover offer from a Hong Kong-based infrastructure group.
Northumbrian Water Group disclosed on Monday this week that it was assessing a potential cash offer from Cheung Kong Infrastructure but said it had not received a formal proposal at that stage.
Today, however, the Durham-based group issued a statement saying that it had now received a non-binding indicative proposal from Cheung Kong regarding a possible cash offer for the company.
“There can be no certainty that an offer will be made,” the statement added. “A further announcement will be made when appropriate.”
Essex & Suffolk Water supplies water to around 770,000 domestic and business customers in mid Essex, north Suffolk and south Norfolk.
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Its operation includes the Abberton reservoir, near Colchester, which is currently the subject of a major expansion project.
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