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.

Its operation includes the Abberton reservoir, near Colchester, which is currently the subject of a major expansion project.