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Media centre
Ofwat today launched a consultation exercise into the recently-completed acquisition of South East Water. New owner Macquarie Bank Limited purchased the water company for nearly £400 million last month. Ofwat is inviting views on any regulatory issues arising from the acquisition, including the: · fitness of Macquarie Bank to be the owner of a regulated water business; and · need for any changes in South East Water's licence to protect customers' interests. South East Water is the second largest of the 12 water-only companies in England and Wales, and supplies water services to 1.5 million customers in the south east of England. Note to Editors: 1. The Director General of Water Services is the economic regulator of the water and sewerage companies in England and Wales. He exercises his powers in a way that he judges will allow them to carry out their functions properly, and finance them. WaterVoice represents customers' interests. 2. Copies of the consultation document, The Completed Acquisition of South East Water plc by Macquarie Bank Limited, will be available from the Ofwat website on www.ofwat.gov.uk or from the Ofwat library on 0121 625 1373. 3. Responses should be sent to Keith Mason, Director of Regulatory Finance, Office of Water Services, Centre City Tower, Hill Street, Birmingham B5 4UA (fax: 0121-625 3609), or by e-mail to keith.mason@ofwat.gsi.gov.uk to arrive no later than 5.00pm on 28 November 2003. 4. Ofwat will place all responses in the Ofwat library unless they are clearly marked "confidential". 5. Prior to the acquisition, Macquarie did not control any water company. The Secretary of State for Trade and Industry is not required to refer the acquisition to the Competition Commission as a merger of water companies under the Water Industry Act 1991. MEDIA ENQUIRIES TO OFWAT PRESS OFFICE ON: 0121 625 1442/1416/1496 Out of hours enquiries to pager: 08700 555 500 water 503/509. Ofwat publications and press notices can be found on Ofwat's website at: www.ofwat.gov.uk  | ||||||
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