Statement regarding share price movement
22/11/2007
The Board of Kelda Group plc ("Kelda") notes the movement in its
share price and confirms that it has received an approach from a
consortium comprising Citigroup Alternative Investments LLC (acting
through one of its units, Citi Infrastructure Investors) ("CII"),
GIC Special Investments Pte Ltd ("GICSI"), Infracapital Partners LP
("Infracapital") and HSBC Bank plc ("HSBC") together, the
"Consortium").
The Consortium has indicated that Kelda shareholders would
receive in aggregate 1100.65 pence per Kelda ordinary share,
comprising a cash offer and the right to retain any proposed
interim dividend in respect of the period to 30 September 2007.
This announcement is made with the approval of the Consortium
but there can be no certainty that an offer will be made.
Kelda has retained Greenhill & Co. International LLP
("Greenhill") and Merrill Lynch International ("Merrill Lynch") as
joint financial advisers in relation to the possible offer.
JPMorgan Cazenove Limited ("JPMorgan Cazenove") is acting as
corporate broker and is also providing financial advice to
Kelda.
A further announcement will be made in due course.
ENDS
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