Emergency Plumber Responds to £5billion Water Deal

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The specialists behind Emergency Plumber have commented on the news that water company, Severn Trent has received a potential bid approach from a consortium of UK, Kuwaiti and Canadian investors.

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Over the past decade, a number of the UK’s biggest water companies have been bought by foreign infrastructure investors

It has been reported in The Guardian that the group, comprising the Kuwait Investment Office (KIO), Borealis Infrastructure Management and the Universities Superannuation Scheme, face an 11 month deadline to confirm the takeover attempt. Severn Trent, which is responsible for supplying water and sewerage services to 4.2 million businesses and homes around the country, have confirmed the approach, however were keen to stress that it is still in its early stages, with no certainty of an offer. The news drove shares in the company by 18%. The news comes following a decision from the company’s Vocal Chief Executive Tony Wray to announce his retirement.

Over the past decade, a number of the UK’s biggest water companies have been bought by foreign infrastructure investors, including Yorkshire Water, Northumbria Water and Thames Water.

Renowned for their London emergency plumbers, Emergency Plumber operates throughout the country, only providing the most reliable and trustworthy engineers. The team take an active interest in all updates and developments within the industry and as such this particular piece of news caught their interest. A representative from the agency shares their thoughts on the matter.

“For a long time, British water companies have been popular amongst foreign pension funds and sovereign wealth investors, offering relatively safe and sustainable returns. It will be interesting to see whether the takeover goes ahead and for what price. We will also be looking into any changes this may mean in service for Severn Trent’s 4.2 million customers.

“However, it is not just water companies that have passed over to foreign hands, but a number of energy firms too, including big names such as E-ON and Npower.”

Emergency Plumber continues to seek out and comment on the latest industry news.

Emergency plumber is an agency run by Martin Smith. With 18 years’ experience in the industry, his aim is to provide fast and efficient emergency plumbing engineers 24/7. The company operates within a wide range of areas in the UK including London, Plymouth, Reading, Coventry, Bolton and Newcastle. With a database of over 300 emergency plumbers, the firm is currently the fastest growing plumbing company in the UK. Customers can also contact the team for information and advice on gas related problems.

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