Australian investment bank Macquarie today announced that it had bought a majority stake in utility firm
The firm said that its investment would help transform the company and put it “back on a stable footing”.
It comes a month after
Shortly afterwards the firm came in for heavy criticism by the UK’s environmental watchdog, which labelled its performance “consistently unacceptable”.
Southern Water provides services to 2.6m water customers and 4.7m wastewater customers across southern England in
Macquarie’s investment, which comes at the start of the new regulatory period for water firms, is equivalent to around £1,000 per household.
Over the next four years,
“Without it, the business will be unable to fulfil the expectations of the millions of customers that rely on its services each day or reduce its negative impact on the local environment.
“This major £1bn equity investment by one of our long-term infrastructure funds will help put
He added that given the transformation would take time, Macquarie planned to own its stake in Southern across several investment cycles.
The post Macquarie takes £1bn stake in
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