HSBC Bank plc sells Cambridge Water PLC

RNS Number : 4730P

HSBC Holdings PLC

04 October 2011

 



4 October 2011

HSBC BANK PLC SELLS CAMBRIDGE WATER PLC

HSBC Bank plc, a wholly owned subsidiary of HSBC Holdings plc, has today sold Cambridge Water PLC ("Cambridge Water") to South Staffordshire Plc, an indirect wholly-owned subsidiary of investment funds managed by Alinda Capital Partners. The transaction comprises Cambridge Water's regulated and non-regulated activities. As at 31 December 2010, Cambridge Water had audited gross assets of £61.6m.

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Notes to editors:

1. The HSBC Group

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,500 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,691bn at 30 June 2011, HSBC is one of the world's largest banking and financial services organisations.

2. South Staffordshire Plc

South Staffordshire Plc is a private company limited by shares and incorporated in the United Kingdom. It is an indirect wholly-owned subsidiary of investment funds managed by Alinda Capital Partners. South Staffordshire Plc is the holding company for South Staffordshire Water PLC and its other non-regulated service businesses that operate predominantly in the UK water sector.

3. Alinda Capital Partners

Alinda Capital Partners ("Alinda") is an independent firm that is the largest manager in the United States of America of pension assets for investment in infrastructure and the third largest in the world, with over $7 billion of funds under management. Alinda's investors are predominantly U.S. and European pension funds, and include some of the largest institutional investors in the world. Alinda has ownership interests in airports, roads, bridges and a tunnel, a rail service, natural gas distribution utilities, natural gas pipelines and storage, water supply and wastewater treatment, renewable energy production, telecommunications networks, water tanks and other infrastructure assets providing essential services to communities. Infrastructure companies in which Alinda has ownership interests operate in 30 states in the United States of America as well as in Canada and Europe. These businesses employ over 15,000 people and serve over 125 million customers annually in more than 400 cities.

 

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