March 18, 2020 / 3:26 PM / in 12 days

British utility Pennon to sell waste management unit for $5 billion, including debt

(Reuters) - Utility firm Pennon Group (PNN.L) said on Wednesday it has agreed to sell its waste management business, Viridor, to U.S. private equity firm KKR & Co Inc (KKR.N) for 4.2 billion pounds ($4.95 billion), including debt.

The deal, which has been unanimously agreed by Pennon’s board, will result in cash proceeds of 3.7 billion pounds taking into account Viridor’s debt, the company said.

Reporting by Yadarisa Shabong in Bengaluru; Editing by Shounak Dasgupta

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below