Macquarie gulps down Thames Water
German utility RWE has agreed to sell Thames Water to a Macquarie-led consortium for £4.8 billion plus £3.2 billion of debt, realising a £500m profit on a company bought in 2001.
The Australian bank beat rivals including a consortium comprising the Qatar Investment Authority and UBS’s global infrastructure fund, and Terra Firma. The transaction is expected to be completed by early December
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