Borealis/Wren House £1.35 billion acquisition of 26.3% stake in Thames Water

Overview:

• Borealis Infrastructure Management and Wren House Infrastructure House have acquired a 26.315% stake in Kemble Water Holdings, the holding company of Thames Water Utilities, from funds managed by Macquarie Infrastructure and Real Assets Europe.
• The deal also sees the pair take an equivalent stake in the company's issued eurobonds.
• Borealis is the investment arm of Canadian pension fund Omers.
• Wren House is the investment arm of the Kuwait Investment Authority.
• Thames Water is the water utility provider for Greater London and the South of England. The company supplies 2.6 billion litres of drinking water a day to 15 million customers.
• Macquarie acquired Thames Water from RWE in 2006 for £8 billion. The deal marks the bank's exit from the company.
• The bank is currently looking to acquire the UK Green Investment Bank.

Sam Duke - Editor