Severn Trent Plc commitments to Ofwat accepted

RNS Number : 8010V

Severn Trent PLC

17 January 2013

 



17 January 2013

Severn Trent Plc commitments to Ofwat accepted

Severn Trent Plc announced in August 2012 that it had decided to sell its Severn Trent Services' Analytical Services business.  At the same time, the sale would also address a number of commitments the business had offered to Ofwat in relation to a complaint under the Competition Act.

Ofwat has today agreed that the commitments offered address their concerns.  As a result, the investigation has been closed without any findings being established in respect of the allegations made in the complaint.

The sale of Severn Trent Analytical Services is progressing and completion is anticipated during the first quarter of 2013.

Please refer to Ofwat's website www.ofwat.gov.uk for any further details.

Any enquiries regarding Severn Trent Plc should be directed to Anastasia Shiach/Martha Kelly at Tulchan Communications on 0207 353 4200.

About Severn Trent Analytical Services 

Severn Trent Analytical Services provides potable, wastewater and contaminated land testing services to UK commercial and utility customers.

The business accounted for about 1.5 per cent of Severn Trent Group's overall revenue. 

About Severn Trent 

Severn Trent is the holding company of the Severn Trent group of companies (comprising Severn Trent and its subsidiaries) (the "Group"). The Group comprises two main business divisions (i) Severn Trent Water which comprises the regulated water utility in Severn Trent Water Limited ("STWL"); and (ii) Severn Trent Services ("STS").

STWL is one of the larger water and sewerage companies in England and Wales in terms of area and turnover, and provides water and wastewater services to 4.2 million households and businesses.  Severn Trent Services provides water and wastewater treatment and operating services to utilities, municipalities and commercial customers around the world.  The turnover for the Group for the year ended 31 March 2012 was £1770.6 million with the underlying profit before interest tax and exceptional items being £504.2 million.

 

END

 

 

MSCNKODBBBKDNDD