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UK water utility Severn Trent to sell U.S. unit for $62 million
July 3, 2017 / 7:10 AM / 5 months ago

UK water utility Severn Trent to sell U.S. unit for $62 million

(Reuters) - British water utility Severn Trent Plc (SVT.L) on Monday said it would sell its North American unit for $62 million to focus on its core UK business.

The company, which supplies water across the UK’s Midlands, said the unit would be sold to private equity firms PPC enterprises LLC and Alston Capital Partners LLC.

The unit would be reported as a discontinued operation in the company’s half-year results, it said in a statement.

Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Amrutha Gayathri

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