CIC poised to take a stake in Thames Water
Sovereign wealth fund China Investment Corporation (CIC) is poised to buy a small stake in the holding company that owns Thames Water, the water network that serves London, the Financial Times reported on Friday, according to Reuters.
Sovereign wealth fund China Investment Corporation (CIC) is poised to buy a small stake in the holding company that owns Thames Water, the water network that serves London, the Financial Times reported on Friday, according to Reuters.
The newspaper cited one person familiar with the situation as saying China's $410bn (£265 bn pound) sovereign wealth fund is close to agreeing the acquisition of up to 10% of the UK utility with its holding company Kemble Water.
The deal would be the fund's first acquisition in the UK and follows investment talks in Beijing this week with British finance minister George Osborne.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The deal would mark the second recent acquisition of a stake in the utility by a foreign investor after Abu Dhabi Investment Authority acquired 9.9% of Thames Water in December from a consortium led by Macquarie Group.
AB
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Christmas at Chatsworth: review of The Cavendish Hotel at Baslow
MoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
By Dr Matthew Partridge Published
-
Tycoon Truong My Lan on death row over world’s biggest bank fraud
Property tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
By Jane Lewis Published