United Utilities sells €100m Tallinn Water stake

Warrington-based water giant United Utilities said on Wednesday it has agreed to sell its “last remaining non-regulated international business activity.”

The company’s 35.3% stake in Tallinn Water (AS Tallinna Vesi) is being sold to a consortium led by its existing partner, the City of Tallinn, for €100.26 million in cash.

United Utilities became the Estonian company’s major shareholder when it was privatised in 2001 and a key partner in delivering an investment programme to upgrade the city’s fresh water supplies, sewage pumping stations and sludge treatment facilities.

Simon Gardiner, United Utilities company secretary, said: “United Utilities is grateful for the City of Tallinn’s trust and opportunity to be a partner in delivering essential water services for more than 20 years.

“We have always tried to repay this trust by working hard to improve every aspect of this service for our customers in Tallinn and we believe that the company has truly succeeded at this.

“While United Utilities has played its part, this would not have been possible without the skill and efforts of the dedicated employees of the company.

“My special thanks go to them and, in particular, to the management board whose guidance and leadership have been exceptional.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.