May 12, 2010

Public-Private Fund To Invest Australian Water Company

Innovation Network Corporation of Japan (INCJ), public-private fund announced that Mtisubishi Corporation, JGC Corporation, Manila Water Company Inc. and INCJ have agreed to acquire United Utilities PLC's 100% owned subsidiary United Utilities Australia Pty Limited and its Australian related entities. Transaction value is approximately AUD 225 million, comprising AUD 176 million in cash and AUD 49 million in net debt. The participation of INCJ means this is the first water project involving a Japanese public-private consortium outside of Japan.

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