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UU gets £119m for half share of metering firm

2nd August 2010

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Dovestone Reservoir, Greater Manchester

Dovestone Reservoir, Greater Manchester

UNITED Utilities has announced that it is to sell its 50% share of gas and electricity metering business Meter Fit for £119m.The Warrington-based company said that the sale is part of its strategy of disposing of its non-regulated assets.It is selling its stake to joint venture partner Marlin Acquisitions - a company ultimately controlled by insurance giant Prudential.Marlin Acquisitions is paying UU £24m in cash and assuming Meter Fit's debts of £95m.The deal takes the total value of disposals of United Util......for the full story register now for free or login below...


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