January 13, 2020 / 4:35 PM / 7 days ago

BUZZ-Pennon: Touches record high on report of KKR bid for unit

(Updates)

** Shares of utility company Pennon Group hit record high after report that KKR submitted a bid for Pennon’s waste management arm, Viridor

** Stock up 6.6% at 1,073.5p, among top pct gainers on London’s midcap index as of 1624 GMT

** Report says here U.S. private equity firm KKR submitted a bid for Viridor, with co seeking 4 bln pounds ($5.19 bln) from the sale

** Report, citing sources, says KKR had attempted to jumpstart proceedings to buy Viridor earlier in 2019, but was rejected by Pennon

** In response to the report, Pennon says review of co is ongoing and “all options are being considered”

** KKR declined to comment

** Viridor provides services to more than 150 local authorities and corporate clients, with over 32,000 customers across the UK - company website

** Pennon shares had gained ~48% in 2019 ($1 = 0.7701 pounds) (Reporting by Yadarisa Shabong in Bengaluru)

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