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Hermes increases stake in Southern Water Services Limited

Hermes Investment Management’s infrastructure team has acquired an additional 17.1 per cent ownership stake in Southern Water on behalf of clients. This takes Hermes’ overall managed ownership interest to 21 per cent. 

Following announcement of the sale of Future Fund’s stake earlier in the year, Hermes has worked collaboratively with multiple parties in order to ensure a positive transaction outcome. Southern Water is responsible for a region encompassing Hampshire, the Isle of Wight, Kent and East and West Sussex, supplying water to over 2.4 million people and wastewater services to 4.6 million people.  The company operates across the entire water and sewerage spectrum and is the seventh largest supply and sewerage company in England by regulated capital value.
Peter Hofbauer (pictured), Head of Infrastructure, Hermes Investment Management, says: “We are pleased to have acquired this additional ownership interest in Southern Water, obtaining incremental governance rights, including board representation, on behalf of our clients. We look forward to continuing to work with the company, Board, Management, Customers and other key stakeholders going forward.”

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