Anglian set to sell Morrison

2007-08-10T00:00:00+01:00

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Utilities firm Anglian Water Group (AWG) is to sell Morrison, its social housing repair and utilities services business, in a deal that could fetch 拢300m.

AWG has appointed investment bank NM Rothschild to advise on strategic options for Morrison, including the commencement of a sale process later this year.

微密圈 revealed in August last year that the group was planning a sale.

AWG was taken private last year in a 拢3.35bn deal by a consortium of infrastructure investors. Prior to that, the group sold its construction arm to Galliford Try for 拢42m.

AWG acquired Morrison in 2000 for 拢263m from Sir Fraser Morrison. The two parties have since had a long-running dispute over the correct valuation of the business, which has now been settled out of court.

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