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Kelda Group, the parent company of Yorkshire Water, is preparing to sell a £1.5 billion stake in the company, according to reports.
Shareholders led by Infracapital, the infrastructure arm of British fund manager M&G Investments, and Citi Infrastructure Investors, the arm of the US bank, plan to sell the stake in the business, Sky News reported.
Infracapital plans to sell its 30 per cent stake in Kelda Group, which it paid around £3 billion to take private in 2007, while Citi Infrastructure Investors wants to reduce its 37 per cent holding to around 20 per cent.
Macquarie, the Australian investment bank, has been appointed to handle the sale by Kelda shareholders and is taking initial soundings from potential investors.
At £1.5 billion, the available stake in Kelda may be broken into smaller chunks or sold in one block.
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