ITOCHU acquires 20% stake in UK water utility

Japan’s ITOCHU Corp has acquired the equivalent of a 20% share position in Bristol Water, a regulated water utility in the UK, from Canadian infrastructure company Capstone Infrastructure Corp for total consideration of £43.5m.

Under the agreement, Capstone has agreed to share its 70% stake in the utility.

ITOCHU said that its technologies will help the utility to provide a reliable supply of water in a sustainable and affordable way.

Capstone will own the equivalent of a 50% ownership stake, while AGBAR (Sociedad General de Aguas de Barcelona) will own the remaining 30% share position in Bristol Water.

Through its equity participation in Bristol Water, ITOCHU intends to advance new water-related business in Asia.

Bristol Water provides drinking water services from water resource management to water treatment, water supply and distribution to around 1.1 million people in the city of Bristol and the surrounding vicinity in southwest UK.

The utility provides approximately 278 million litres/day across a 2,400km² area.

Image: Bristol Water takes half its water from the Chew Valley Lake (pictured), Blagdon Lake and Chedder Reservoir to serve its customers. Credit: Jason Allen