December 6, 2009 / 3:52 PM / 10 years ago

Buyout firms eyeing United Utilities arm: report

LONDON (Reuters) - British water company United Utilities (UU.L) has hired JP Morgan Cazenove to oversee an auction as part of a wide-ranging asset disposal, the Sunday Times reported.

The newspaper said several buyout firms were preparing to bid as much as 500 million pounds for an arm of the group. It said 3i, Advent International and KKR were all thought to be considering offers.

It said the business, which provides outsourced services for other utilities, could be sold as a whole or broken up.

United Utilities, which declined to comment on the report, said at the end of November it might sell off further parts of its business.

JP Morgan was not immediately available to comment.

Reporting by Kate Holton; editing by Karen Foster

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