Kelda's acquisition by Saltaire Water
On Tuesday, February 12th, 2008, Kelda Group plc was delisted
from the London Stock Exchange following acquisition by the global
infrastructure fund, Saltaire Water.
Saltaire Water is a newly-incorporated consortium made up of
four investment companies, Citigroup, GIC, Infracapital (the
Prudential Group) and HSBC. Under the terms of the acquisition,
shareholders received 1090p in cash per Ordinary Share.
Kelda provides water and waste water services to customers in
the UK, employing over 3,000 people. Its main subsidiary is
Yorkshire Water, which provides water and waste water services to
more than 4.8 million people and 130,000 businesses. Kelda's
principal, non-regulated business, Kelda Water Services Ltd,
focuses on water, waste water and business services.
At the time of the acquisition, the Board of Kelda Group plc
said Saltaire Water's recommended offer was a good one for our
customers, shareholders and employees alike.
The Board said that the members of the consortium were highly
credible institutions and, as investors, were taking a long-term
perspective on the business with a view to continued delivery of
excellent service levels to customers and opportunities for
employees. At the same time, the Board said the offer represented
excellent value for shareholders.
The consortium said that they supported Kelda's management team
and would work to ensure that the company's performance was
maintained to the benefit of its customers and stakeholders. They
also spoke optimistically of the potential to deliver further
growth and investment opportunities in the future.
On July 3rd, 2008, Kelda Group plc changed its name to Kelda
Group Limited, having completed its re-registration with Companies
House as a private company.
 |
