Australian investment fund gains full ownership of South East Water
Hastings Funds Management Ltd has announced that it has completed the acquisition from La Caisse de depot et placement du Quebec of a further 50 percent of South East Water.
The acquisition of the water-only company has been made on behalf of entities within the Desjardins Group and other managed clients.
Hastings managed fund Utilities Trust of Australia (UTA) will maintain ownership of the other 50 percent stake in SEW, which means that Hastings will manage 100 percent of the equity in the utility.
Hastings CEO Andrew Day said the acquisition was a major milestone for Hastings – a leader in infrastructure asset management.
“In an increasingly competitive infrastructure market we are able to provide our clients with access to unique opportunities borne from our deep global networks and long-standing relationships. In the present case we were delighted to provide the SEW investment opportunity to Hastings’ existing and new clients.” Mr Day said.
“Investment in assets such as SEW is consistent with our strategy and the objective of our infrastructure portfolio. Desjardins is pleased to participate in this investment with an experienced infrastructure partner such as Hastings,” added Frederic Angers, Head of Infrastructure at Desjardins.
The parties have agreed to keep financial details of the transaction confidential.
- Turner and Townsend buys lean management consultancy Suiko Turner & Townsend has announced the acquisition of UK-based operational excellence consultancy Suiko for an... Read More >
- Full operational roll-out for Skills Accord The Skills Accord, developed by the Energy & Utilities Skills Partnership, is getting a full operational roll-out... Read More >
- Monsal acquisition to enhance GE's water treatment options GE has announced it is buying Monsal, a private UK-based water, waste, advanced anaerobic digestion and integrated... Read More >
- Comment: What could retail competition do for customers? Domestic retail competition could provide an opportunity to look again at how we determine the price of water to the... Read More >
- Comment: Sludge all set for reform The opening of the bioresources market presents water companies with an opportunity to do things differently, but what... Read More >
- Interview: Ben Jeffs, Chief Executive, MOSL “The whole industry has really mobilised around market opening, and the water companies deserve credit for that.” Read More >
- Close-Up: Who will be the big fish in the new water retail market? With a £2.5BN new market for non-domestic water retail to open in England in April, joint ventures, incumbents and new... Read More >
- Water Industry Procurement: could Brexit provide a fresh start? Could Brexit lead to a re-examination of the procurement rules which govern the water industry and other infrastructure... Read More >