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Kelda target for takeover
Nov 23 2007 by Henryk Zientek, Huddersfield Daily Examiner
A TAKEOVER bid worth almost £3bn has been launched for Yorkshire Water’s owner Kelda.
The company revealed it had received an approach from a consortium of investors made up of Citigroup Alternative Investments, CIG Special Investments, Infracapital Partners and HSBC Bank.
Shareholders would receive £11 a share under the terms of any offer, but Kelda said there was no certainty that an offer would be made.
Kelda made its announcement after shares in the Bradford-based group rose by 15% to £10.75 in trading yesterday.
Yorkshire Water is Kelda’s main business, providing water and sewerage services to some 4.7m customers and 140,000 businesses. Bradford-based Kelda, which has 2,200 employees, made operating profits on £332.7m last year on turnover totalling £741.1m.
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