Change in ownership of Bristol Water plc

RNS Announcement

BRISTOL WATER PLC

It is announced that Pennon Group PLC ("Pennon") has today agreed to acquire 100% of the issued share capital of Bristol Water Holdings UK Limited and its subsidiaries, including Bristol Water plc (Bristol Water), (together the Bristol Water Group), from its indirect shareholders; (a) infrastructure funds advised by iCON Infrastructure LLP; and (b) ITOCHU Corporation (the Acquisition).    The Acquisition has been agreed and signed, with completion expected to occur later today, 3 June 2021.

Accordingly, by virtue of the Acquisition, Bristol Water plc will become a wholly owned subsidiary of Pennon and a member of the Pennon Group of companies (the "Group"). The Acquisition is subject to review by the Competition and Markets Authority, with input from the Water Services Regulation Authority (Ofwat).

Pennon is a UK-focused water infrastructure group, comprising South West Water (incorporating Bournemouth Water) and Pennon Water Services.  The Pennon Group, including the Bristol Water Group, builds on a strong heritage and history and brings great people and businesses together.   The Acquisition will allow Bristol Water to continue to deliver enhanced resilience and water security, benefitting its customers in Bristol and beyond.

Dated: 03 June 2021

For further information contact:

Helen Hancock, Company Secretary +44 (0) 7976 731814

LEI Number 549300V0DVQGSADLDB82