Abu Dhabi to buy 9.9% stake in Thames Water - FT.com

The Abu Dhabi Investment Authority, one of the world’s largest sovereign wealth funds, is to buy just under 10 per cent of Thames Water from a consortium of investors led by Australian investment bank Macquarie.

Macquarie declined to reveal terms for the sale of a 9.9 per cent stake in Kemble Water, the holding company for the UK utility.

Thames Water, which provides sewerage services to 14m and water to 8.8m customers in London and the Thames valley, was sold for an enterprise value of £8bn ($12.5bn) by German utility group RWE in 2006, which included £4.8bn in cash and £3.2bn in debt.

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