United Utilities Sells Non-Regulated Water Interests To Veolia

14th Jun 2010 07:14

LONDON (Dow Jones)--United Utilities Group PLC (UU.LN) said Monday it has agreed to sell its principal non-regulated water interests in the U.K. and Europe to Veolia Water U.K. PLC for GBP174.2 million, comprising GBP108.6 million in cash on completion and GBP65.6 million in net debt assumed by the purchaser. MAIN FACTS: -A further GBP10 million in cash is payable on a deferred basis, subject to certain contingencies. -Completion of the transaction is expected in the second half of 2010 and is subject to a number of consents and regulatory approvals. -United Utilities expects to retain the proceeds within the group. -Shares closed at 560 pence Friday. -By Elliott Ball, Dow Jones Newswires; 44-20-7842-9314; [email protected] (END) Dow Jones Newswires June 14, 2010 02:14 ET (06:14 GMT)