Pennon Share News (PNN)

IN BRIEF: CMA asks for comments on Pennon purchase of SES Water

Pennon Group PLC - Exeter-based water utility - The UK Competition & Markets Authority invites comments on Pennon's agreement to buy Sutton & East Surrey Water PLC, which was announced last month. The CMA had immediately served an initial enforcement order on Pennon in relation to the acquisition. Pennon agreed in January to buy Sumisho Osaka Gas Water UK Ltd and related businesses from Sumitomo Corp and Osaka Gas for GBP89 million, with the deal representing an enterprise value including debt of GBP380 million. Sumisho Osaka owns Sutton & East Surrey Water, or SES Water. The competition watchdog on Tuesday says it has not yet launched a formal investigation into the deal, but it is considering "whether the creation of that situation is likely to prejudice [water industry regulator] Ofwat's ability, in carrying out its functions, to make comparisons between water enterprises."

Ondo InsurTech shares up on agreement with South West Water

(Alliance News) - Ondo InsurTech PLC on Monday said it has signed an agreement with South West Water to reduce water leaks in the south west of England.

LONDON BROKER RATINGS: HSBC cuts Compass; Berenberg lowers Victrex

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

UK dividends calendar - next 7 days

London close: Stocks mixed on relatively quiet Monday

(Sharecast News) - London's stock market finished with a mixed performance on Monday, after underwhelming reports from PageGroup and Crest Nicholson.

South West Water accused of not being honest over drought projections

(Sharecast News) - Shares in Pennon Group fell on Monday after its South West Water arm was accused on Monday of not being honest with regulators over how prepared it was for a drought in 2022.

LONDON BROKER RATINGS: Exane BNP cuts HSBC; Peel Hunt raises Hammerson

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

IN BRIEF: Pennon CEO Susan Davy buys GBP60,000 in shares

Pennon Group PLC - Exeter-based water utility company - Chief Executive Susan Davy buys 8,356 shares at GBP7.30 each, worth GBP60,999, in London on Friday.

IN BRIEF: CMA issues initial enforcement order on Pennon for SES Water

Pennon Group PLC - Exeter-based water utility - The UK Competition & Markets Authority says that on Monday it served an initial enforcement order on Pennon in relation to the FTSE 250 company's agreement to buy Sutton & East Surrey Water PLC, which Pennon announced on Wednesday. Pennon said it agreed to buy Sumisho Osaka Gas Water UK Ltd and related businesses from Sumitomo Corp and Osaka Gas for GBP89 million, with the deal representing an enterprise value including debt of GBP380 million. Sumisho Osaka owns Sutton & East Surrey Water, or SES Water. An initial enforcement order requires the companies to take no irreversible action while the CMA determines whether it will investigate the deal for competition concerns.

UPDATE: Pennon acquires SES Water owner, raises GBP180 million

(Alliance News) - Pennon Group PLC on Wednesday said it has raised GBP180 million through a fundraise, in connection with its newly announced takeover of Sutton & East Surrey Water PLC.

TOP NEWS: Pennon acquires SES Water owner, plans fundraise

(Alliance News) - Pennon Group PLC on Wednesday announced a placing and retail offer to raise up to GBP180 million, in connection with its newly announced takeover of Sutton & East Surrey Water PLC.

LONDON MARKET OPEN: Grocers weigh on FTSE as Sainsbury's disappoints

(Alliance News) - Stock prices in London opened mixed on Wednesday, as investors remained cautious ahead of US inflation data, and rising geopolitical tensions.

Pennon raising cash to fund £89m acquisition of SES Water

(Sharecast News) - Water utility company Pennon is raising up to £180m in an equity capital raise to fund the acquisition of Sumisho Osaka Gas Water UK, the holding company of Sutton and East Surrey Water (SES Water).

LONDON BRIEFING: Sainsbury's grocery sales drive festive growth

(Alliance News) - Stocks are expected to retreat at Wednesday's market open in London, with investors hesitant to take risks ahead of key market catalysts later this week.

LONDON BROKER RATINGS: JPMorgan raises Compass and Marston's

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning: