JP Morgan Flushed With Success Buys Southern Water.
Oct 9th, 2007 | By Island Pulse | Isle of Wight News From The Island PulseSouthern Water responsible for supplying water and sewerage services to homes across Hampshire and the Isle of Wight, has been sold in a deal valuing the business at £4.2bn.
‘Flushed With Success’ a consortium led by JP Morgan including several Australasian companies, won the battle to buy Southern Water with a £4.2bn offer for the UK water and sewerage company.Â
JP Morgan paid 360 million pounds for a 32 percent stake in the company, which provides water to more than 2 million people in Southern England.
The JP Morgan consortium beat off competition from rival bidders including investment banks Goldman Sachs and Morgan Stanley, to buy the company from Royal Bank of Scotland.
Island Pulse
