Caisse Acquires 50% Stake in UK Water Utility

Canadian fund manager Caisse has acquired a 50% stake in UK water utility South East Water for £165m ($256m).

The transaction involves the purchase of all shares owned by Hastings Diversified Utilities Fund and the acquisition of 11.3% shares held by Utilities Trust of Australia.

Following the transaction Caisse will own a 50% stake in South East Water and the remaining shares will be owned by UTA.

South East Water supplies drinking water to 2.1 million customers in Kent, Sussex, Surrey, Hampshire and Berkshire, England.