10 January 2024
Sutton & East Surrey Water Services Limited (trading as SES Home Services and SES Business Water)
Completion of sale to Pennon Group PLC
It is announced that Pennon Group PLC (“Pennon”) has today acquired 100% of the issued share capital of Sumisho Osaka Gas Water UK Limited(Sutton and East Surrey Water Services Limited’s (“SESW Services”) 100%parent company) from its indirect shareholders Sumitomo Corporation and OsakaGas (the “Acquisition”), who jointly owned SESW Services prior to the Acquisition.
Completion of the Acquisition, which is not subject to any conditions, has already occurred. Accordingly, SESW Services has become a wholly-owned subsidiary of Pennon and a member of the Pennon Group of companies(the "Group"). The Acquisition is subject to review by the Competition and Markets Authority (the “CMA”), with input from the Water Services Regulation Authority (Ofwat). Pennon considers that the Acquisition will create a net benefit for customers and shareholders and expects to receive a decision from the CMA within its usual timescales.
Pennon is a FTSE 250 listed UK-focused environmental infrastructure group, comprising South West Water (incorporating Bristol Water and Bournemouth Water), Pennon Water Services, Pennon Power and a stake in Water2business. The Pennon Group, including the SES Water Group of which SESW Services is part,builds on a strong heritage and history and brings great people and businesses together.
For further information, please contact Paul Kerr (SES Water Group CFO) at:
Address: 66-74 London Road, Redhill, Surrey RH1 1LJ
Email: Paul.kerr@seswater.co.uk
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