Macquarie Group's (MQG.AX) asset management arm on Monday agreed to buy a majority stake in Southern Water for more than 1 billion pounds ($1.39 billion), pledging to transform the British utility that has faced criticism and fines for polluting local rivers.
The logo of Australia's biggest investment bank Macquarie Group Ltd adorns a desk in the reception area of its Sydney office headquarters in Australia, Oct. 28, 2016. REUTERS/David Gray/File Photoasset management arm on Monday agreed to buy a majority stake in Southern Water for more than 1 billion pounds , pledging to transform the British utility that has faced criticism and fines for polluting local rivers.
The Australian fund said 2 billion pounds would be invested over the next four years of the current regulatory period to fix the pipes, pumping stations, and sewers that are underperforming and causing harm to the local environment.
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