Quarter share of Thames Water changes hands
Post Date: 14 March 2017
Macquarie Group, the Australian investment body which has held a 26 per cent stake in Thames Water for the past 11 years, has sold its share to Borealis Infrastructure, a consortium including the investment arm for Kuwait.
Macquarie European Infrastructure Fund 2 (MEIF2), together with two other Macquarie-managed funds, have agreed to sell a combined 26.3 per cent interest in Kemble, the ultimate holding company of Thames Water, to Borealis Infrastructure, the infrastructure investment manager of pension fund OMERS and Wren House, the infrastructure investing arm of the Kuwait Investment Authority.
Thames Water is the UK's largest water and wastewater services provider, serving 15 million customers across London, the Thames Valley and surrounding areas. Regulated by Ofwat, the Environment Agency and the Drinking Water Inspectorate, it supplies 2.6 billion litres of drinking water and treats 4.4 billion litres of wastewater per day.
Over the 11-year period in which Macquarie held interests in Thames Water, the business has successfully delivered an ambitious capital investment programme of over £11 billion to maintain, update and expand its network. Despite this very significant investment, Thames Water customers still pay the third lowest charges for water and sewerage services in England and Wales.