Dhabi Investment Authority (ADIA), the emirate’s sovereign wealth fund, has bought
a 9.9 percent stake in Thames Water from a consortium led by Australian bank Macquarie.
was made by Infinity Investments, a wholly-owned subsidiary of ADIA Macquarie said
in a statement on its website on Tuesday. The company declined to reveal the
value of the sale of the stake in Kemble Water, the parent company of Thames
The UK utility
is the country’s largest water and wastewater services company.
ADIA is one
of the world’s largest wealth funds with estimated assets of $400-$600bn,
ranging from stakes in London’s Gatwick Airport to Hyatt Hotels.
spokesperson for the wealth fund declined to comment on the deal.
Macquarie-led consortium acquired its stake in Kemble in 2006 from the German
utility group RWE for £8bn ($12.5bn), beating competition from several bidders
including one led by the Qatar Investment Authority.
Water on Dec 5 announced an underlying profit after tax for the six months
ending September 30 of £117m ($182m). The results were broadly in line with the
same period the previous year.
August restructured its external equities department and named Sheikh Mohammed
bin Khalifa Al Nahyan, son of the President of the United Arab Emirates and
ruler of Abu Dhabi, as the head of its newly-created indexed funds department.
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