| South Staffordshire water sold |
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| Wednesday, 31 October 2007 | |
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Utility company South Staffordshire Water has been sold in a deal worth around £400 million. Arcapita Bank, which acquired the Walsall-based business in 2004, announced it had sold the water company to the Alinda Infrastructure Fund, a £1.5 billion institutional fund managed by New York-based Alinda Capital Partners. The sale price has not been publicly disclosed, but South Staffordshire's evaluated price was between £390m-£410 million before the acquisition. The deal nets Arcapita Bank a huge profit, it paid £245 million for the business in November 2004.       |
