12th Nov 2009 07:04
United Utilities Group PLC
12 November 2009
UNITED UTILITIES SELLS ITS ECONOMIC INTEREST IN MANILA WATER COMPANY
United Utilities today announces that it has agreed to sell its 11.67 per cent economic interest in Manila Water Company (MWC) to Ayala Corporation and Philwater Holdings Company Inc, both existing shareholders of MWC, for a cash consideration of USD73 million. On completion of the transaction, expected by the end of 2009, United Utilities will reinvest approximately USD1.2 million in new preference shares in Philwater Holdings Company Inc.
United Utilities contacts:
Philip Green, Chief Executive +44 (0)1925 237000 Tim Weller, Chief Financial Officer +44 (0)1925 237000 Gaynor Kenyon, Communications Director +44 (0)7753 622282 Darren Jameson, Head of Investor Relations +44 (0)1925 237033
James Bradley / Tom Murray, Tulchan Communications +44 (0) 20 7353 4200
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