REG-United Utilities Grp: United Utilities to sell interest in Manila Water

Thu Nov 12, 2009 2:04am EST
 
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United Utilities Group PLC

12 November 2009

                UNITED UTILITIES SELLS ITS ECONOMIC INTEREST IN                
                             MANILA WATER COMPANY                              

United Utilities today announces that it has agreed to sell its 11.67 per cent
economic interest in Manila Water Company (MWC) to Ayala Corporation and
Philwater Holdings Company Inc, both existing shareholders of MWC, for a cash
consideration of USD73 million. On completion of the transaction, expected by
the end of 2009, United Utilities will reinvest approximately USD1.2 million in
new preference shares in Philwater Holdings Company Inc.

United Utilities contacts:

Philip Green, Chief Executive                            +44 (0)1925 237000    
                                                                               
Tim Weller, Chief Financial Officer                      +44 (0)1925 237000    
                                                                               
Gaynor Kenyon, Communications Director                   +44 (0)7753 622282    
                                                                               
Darren Jameson, Head of Investor Relations               +44 (0)1925 237033    
                                                                               
James Bradley / Tom Murray, Tulchan Communications       +44 (0) 20 7353 4200  



END

 

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