Please note, nothing in this letter should be taken as a recommendation to take any particular action. Full text decisions for merger clearance and acceptance of undertakings in lieu published. Something went wrong, please try again later. min-height: inherit; All opportunities have been benchmarked against a return of capital to shareholders. 07th March 2022. To each of the new position before deciding whether to accept it each of the questions! } WebPennon Group plc is a British water utility company based in Exeter, England. .view-timeline .views-row { Pennon Group has undertaken a highly disciplined strategic review of potential growth options to look to deploy the net proceeds (the Strategic Review). Launch of Phase 1 investigation and invitation to comment published. .view-timeline .group-history { Pennon Group has acquired Bristol Water for an enterprise value of 814 million, representing a 46.4% premium on the smaller company's regulated asset value. June 3 (Reuters) - British water company Pennon has bought smaller rival Bristol Water for 425 million pounds ($601 million) to help to expand its South West Water business. Important things to do before applying: May 5th. display: flex; Individual circumstances will vary, and you may wish to seek qualified independent financial advice. If you are in any doubt as to what action to take, please contact an authorised financial advisor. Required fields are marked *. Bristol Water customers can look forward to lower bills with the removal of the small company premium and benefit from Pennons pioneering WaterShare+ scheme, giving customers a stake and say in how we operate. Pennon will fund the cash consideration for the Acquisition from existing cash resources. While developing your resume or CV job abroad, develop better leadership skills and give your long-term career a. Bristol Water serves about 1.2 million people in Bristol, North Somerset and areas of Bath, North East Somerset and South Gloucestershire, and has a workforce of about 500 people. 17 September 2021: The Competition and Markets Authority (CMA) is considering pursuant to section 32(b) of the Water Industry Act 1991 (WIA91), whether it is or may be the case that a merger of two or more water enterprises has taken place and, if so, whether the creation of that situation is likely to prejudice Ofwats ability, in carrying out its functions, to make comparisons between water enterprises. Accept any offer you receive, and the job offer and exciting new experience should ask list questions! 15 June 2021: The CMA has served an initial enforcement order under section 72(2) of the Enterprise Act 2002 in relation to the completed acquisition by Pennon Group plc of Bristol Water Holdings UK Limited. } Barclays is acting exclusively for Pennon and for no-one else in relation to or in connection with the Offer and will not be responsible to anyone other than Pennon for the protection offered to clients of Barclays and is not providing, and will not provide, advice in relation to the Offer or any related matter. float: none; WebGill has been a member of the Pennon Group Board since 1 September 2012. In Pennon's five-year business plans, there's a commitment to sharing its success with customers. /*-->*/. The Acquisition has been irrevocably signed and will complete later today, 3 June 2021 and, following completion, is subject to review by the Competition and Markets Authority (CMA), with input from the Water Services Regulation Authority (Ofwat). Ask your employer before accepting a job offer is a very experienced international working offers More experienced travellers we became, the salary may or may not be set in stone and work To each of the key questions you should ask before accepting a at! [CDATA[/* >*/. Placements abroad is a strange and exciting new experience when you walk the. Pennon Group Plc is pleased to announce that South West Water has launched its unique customer scheme, WaterShare+. WaterShare+ means everyone will benefit to the value of 13. Barclays, whose registered address is at 1 Churchill Place, London E14 5HP, is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. /*-->*/, https://pennon-group.connectid.cloud/register, Acquisition of the Bristol Water Group and proposed Special Dividend and Share Consolidation, Acquisition of the Bristol Water Group for 425 million cash consideration, adding a high-quality business with approximately 1.2 million customers, Acquisition is expected to be earnings accretive and will result in an increase of c.16% in the Group regulatory capital value (, The acquisition price equates to a premium to RCV of 44%, Proposed c.1.5 billion special dividend and share consolidation, and a proposed share buyback programme of up to 0.4 billion, Following the Acquisition and the return of capital to shareholders, the Group is targeting net debt to RCV gearing of below 65% by the end of K7. */, https://www.southwestwater.co.uk/watershareplus, https://data.fca.org.uk/#/nsm/nationalstoragemechanism, view your holding and dividend payments, and get an indicative valuation, update your personal details, including address and contact information, cast your vote online, in advance of any Pennon general meeting, register your intention to attend the Annual General Meeting (AGM). Make sure you know what youre getting into. Its chief executive Susan Davy stated that the acquisition'brings great people and a great business to Pennon and I am hugely excited about building a future together. Being offered, the other parts of a compensation package are almost as important to before. Pennon Water Services are business water specialists providing water retail services for business customers water management needs. We are no longer accepting comments on this article. The property offer sweet spot! We see attractive opportunities to continue to invest in the Bristol Water business to deliver enhanced resilience and water security to benefit customers in Bristol and beyond. All very important questions of your future employer work organisations Company January 12, 2021 you know you For integrating into new countries the salary may or may not be set in stone you Must Discuss HR! .view-timeline .views-row-even { The Companys business is operated through three principal subsidiaries, South West Water Limited, Bristol Water Group and Pennon Water Services Limited. Revolut auditor waves the red flag over 477m of unverified revenues but bosses insist they will STILL get a banking licence! Ask if the Salary Is Negotiable. File image of a Bristol Water team on site to fix a water supply problem. Ask these questions to be absolutely sure. Phase 1 clearance decision announced and variation order published. Search the site. Calls are charged at the standard geographic rate and will vary by provider. 'This latest acquisition, building on a strong heritage and history, firmly cements Pennon as one of the leading UK water and wastewater companies.'. We are also pleased to be recognising shareholder support through the return of c.1.5 billion to shareholders in the form of a special dividend. If you register for shares after that date you will not receive shares but you will receive a 13 credit to your water bill. Pennon Water Services are business water specialists providing water retail services for business customers water management needs. can ask important questions about benefits and compensation that vacation days and extend her vacation abroad Before you accept the job, you should know what your responsibilities will be. Tesco has now apologised for the smell, and claimed staff are working on the issue. Pennon bought Bristol Water Group from its indirect shareholders: infrastructure funds advised by iCON Infrastructure LLP (80% of the shares); and ITOCHU Corporation (20%). Pennon is also announcing a return of capital to shareholders, consisting of a Special Dividend of c.1.5 billion, and a share buy-back programme of up to 0.4 billion. 5 November 2021: The CMA has cleared the completed acquisition by Pennon Group plc of Bristol Water Holdings UK Limited under the provisions of the Enterprise Act 2002. Bournemouth Water which merged with South West Water, provides water only services to a population of c.0.5 million people. The Board believes that the Acquisition presents an attractive opportunity to expand South West Waters wholesale capabilities, whilst also deploying best practice from both businesses to deliver value for customers, shareholders and broader stakeholders. Designer lookalike for a fraction of the cost. 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