Bristol Water PLC Directorate Change (7811A)
03 Juni 2021 - 4:55PM
UK Regulatory
TIDMBWRA
RNS Number : 7811A
Bristol Water PLC
03 June 2021
RNS Announcement
BRISTOL WATER PLC
Pennon Group PLC ("Pennon") today agreed to acquire 100% of the
issued share capital of Bristol Water Holdings UK Limited and its
subsidiaries, including Bristol Water plc (Bristol Water),
(together the Bristol Water Group), from its indirect shareholders;
(a) infrastructure funds advised by iCON Infrastructure LLP; and
(b) ITOCHU Corporation (the "Acquisition").
Accordingly, by virtue of the Acquisition, Bristol Water has
become a wholly owned subsidiary of Pennon and a member of the
Pennon Group of companies (the "Group").
Following completion of the Acquisition, Paul Malan and
Indradoot Dhar of iCON Infrastructure LLP and Hajime Ichishi of
ITOCHU Corporation have today resigned as directors of Bristol
Water and the other companies comprised in the Bristol Water Group
and Paul Boote, Iain Evans and Neil Cooper have today been
appointed as directors of Bristol Water and the other companies in
the Bristol Water Group:
The Company's Chairman Keith Ludeman said:
"On behalf of the Board I would like to thank Paul, Indra and
Hajime for their support as shareholder representative board
members of Bristol Water plc and to welcome Paul, Iain and Neil to
the board as directors following the acquisition of the Company by
Pennon Group PLC"
The Acquisition is subject to review by the Competition and
Markets Authority, with input from the Water Services Regulation
Authority (Ofwat).
Pennon is a UK-focused water infrastructure group, comprising
South West Water (incorporating Bournemouth Water) and Pennon Water
Services. The Pennon Group, including the Bristol Water Group,
builds on a strong heritage and history and brings great people and
businesses together. The Acquisition will allow Bristol Water to
continue to deliver enhanced resilience and water security,
benefitting its customers in Bristol and beyond.
Dated: 03 June 2021
For further information contact:
Helen Hancock, Company Secretary +44 (0) 7976 731814
LEI Number 549300V0DVQGSADLDB82
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END
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