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
-
‘I installed a heat pump in my home – here are five things I’ve learnt’From the size and noise of a heat pump to how much it costs to run one, Ruth Emery reveals what she’s learnt after installing one in her home six months ago
-
3 ways to work out if a stock is good valueThe only thing you can really control in investing is the price you pay for an asset – but how can you tell if you’re getting a good deal when it comes to the price of a stock?
