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Ofwat today launched a consultation into the acquisition of South Staffordshire plc, owner of South Staffordshire Water. Bahrain-based First Islamic Bank, through its subsidiary AquaInvest Acquisitions Ltd, purchased the company for £142 million last month. Ofwat is inviting views on any regulatory issues arising from the acquisition, including:
South Staffordshire Water is the fifth largest of the 12 water only companies in England and Wales. The Walsall-based company supplies water to around 500,000 homes and 36,000 businesses in Staffordshire, Derbyshire and the Black Country. Notes 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. 2. Copies of the consultation document are 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 be received no later than 5.00pm on Friday 14 January 2005. 4. Ofwat will place all responses in the Ofwat library at the end of the consultation period. 5. Prior to the acquisition AquaInvest Acquisitions Ltd did not control any water company in England and Wales. The Secretary of State for Trade and Industry is not, therefore, 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 1416/1496/1442 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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