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British water canal Southern Water will be sold for $8,53 billion
9 October 2007Consortium of investment funds under control of JPMorgan Chase and Co., into which Australian Challenger Infrastructure Fund enters, have come to the agreement with British bank Royal Bank of Scotland (RBS) upon purchase of water canal Southern Water for 4,195 billion pounds sterling (8,53 billion dollars).
According to the terms of transaction Challenger Infrastructure will receive 27 % of a water canal’s shares.
Let’s remind, for the first time the information on intention RBS to expose on sale water canal Southern Water has appeared in June, 2007. Then it was informed, that the sum of the transaction can make 4 billion pounds sterling (8,13 billion dollars).
Water canal Southern Water provides water supply to the county Kent, Sussex and Hampshire in the south of England.
In 2006 net profit RBS has increased on 15 % - up to 6,2 billion pounds sterling (12,14 billion dollars) against 5,39 billion pounds sterling in 2005. Thus the proceeds of bank for the specified period have increased on 9 %, having made 28 billion pounds sterling (54 billion dollars) against 25,56 billion pounds sterling in 2005.
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