AWG plc

AWG
Private
Industry Water
Founded 1973
Headquarters Huntingdon, UK
Website www.awg.com

AWG plc was a British holding company which is parent to Anglian Water. It was previously listed on the London Stock Exchange and was a member of the FTSE 250 Index but it is now owned by the Osprey Consortium. Its headquarters are in Huntingdon, Cambridgeshire.

History

Originally Anglian Water, it was one of the British regional water companies privatised in 1989.

Like many utility companies, AWG has attempted to diversify away from a core business which offers steady profits but has very limited potential for expansion, in its case through the acquisition in 2000 of the Scottish support service and construction group Morrison Construction.[1] In 2006 it sold Morrison Construction to Galliford Try for £42m.[2]

AWG was acquired by the Osprey Consortium, made up of Canada Pension Plan Investment Board, Colonial First State Global Asset Management, Industry Funds Management and 3i Group, in December 2006.[3]

In March 2008 AWG sold the Morrison Utility Services business to Cognetas and Englefield Capital for £235m.[4]

See also

References

  1. ↑ AWG sues Morrison Chiefs over 'misrepresentation' Guardian, 5 February 2003
  2. ↑ AWG sells building arm to Galliford Telegraph, 2 March 2006
  3. ↑ AWG: Welcome
  4. ↑ AWG sells Morrison utilities services division Herald, 8 March 2008

External links

This article is issued from Wikipedia - version of the Sunday, February 15, 2015. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.