19th May 2005 09:11
East Surrey Holdings PLC19 May 2005 PRESS ANNOUNCEMENT FOR IMMEDIATE RELEASE 19 May 2005 ACQUISITION OF CENTRICA'S GAS CONNECTIONS BUSINESS BY KELLEN VENTURES Earlier today Kellen Ventures, a new company owned ultimately by East SurreyHoldings plc ("East Surrey Holdings") (25%) and Terra Firma (75%) announced that ithas agreed to acquire Centrica plc's gas transportation business, British GasConnections Limited for £90 million (the "Acquisition"). Kellen Ventures is being funded by a combination of equity, provided by Terra Firmaand East Surrey Holdings, and bank financing. The consideration payable by East Surrey Holdings in respect of the Acquisition isapproximately £8 million which is being satisfied from the existing cash resourcesof East Surrey Holdings. Enquiries East Surrey Holdings plc Tel: 01737 772 000Phil Holder Hawkpoint Partners Limited Tel: 020 7665 4500Paul BainesJonathan Coddington Hawkpoint Partners Limited, which is authorised and regulated in the UnitedKingdom by the Financial Services Authority, is acting exclusively for EastSurrey Holdings plc and no-one else and will not be responsible to anyone otherthan East Surrey Holdings plc for providing the protections afforded to clientsof Hawkpoint. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Centrica