Chelmsford-based Essex and Suffolk Water has a new owner as part of a £2.2 billion deal.
Former owner Suez has sold 75 per cent of its holding in Northumbrian Water, of which Essex and Suffolk is part, to a group of institutional investors.
The deal values Northumbrian Water at £2.2 billion.
The Essex water company delivers supplies to 1.7 million customers and employs 700 people.
The company says there will be no impact on jobs or levels of service and described the change of ownership as "good news for customers and employees."
As a result of the sale, customers of ESW will have its company listed on the London Stock Exchange as an independent business.
Managing director John Cuthbert said: " This is great news for Essex and Suffolk Water and its customers and staff.
"The quality of the institutional investors who have committed significant funds along with the decision of Suez to retain a 25 per cent equity share demonstrates the significant interest and confidence in our business and in the regulatory environment."
Published Monday, May 19, 2003
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