Philippine/Japanese consortium buys UU Australia

United Utilities Australia Pty Ltd, which is involved in several membrane-based desalination and water reuse projects in Australia, has been bought by a consortium including Manila Water of the Philippines and Mitubishi Corp and JGC Corporation of Japan.

The agreement signed with United Utilities plc of the UK on 11 May 2010 values its Australian subsidiary at Aus$ 225 million (US$ 199 million).

The transaction is subject to a number of consents and regulatory approvals. Financial close is expected in the second half of 2010.

UU Australia in a member of the AdelaideAqua consortium building the 150,000 m³/d first stage of the Adelaide seawater reverse-osmosis desalination project, due to deliver water in December 2010.