UK markets close in 3 hours 31 minutes
  • FTSE 100

    6,919.02
    +28.53 (+0.41%)
     
  • FTSE 250

    22,343.38
    +74.92 (+0.34%)
     
  • AIM

    1,245.27
    -0.34 (-0.03%)
     
  • GBP/EUR

    1.1502
    +0.0000 (+0.00%)
     
  • GBP/USD

    1.3757
    +0.0005 (+0.04%)
     
  • BTC-GBP

    46,994.38
    +1,161.35 (+2.53%)
     
  • CMC Crypto 200

    1,395.28
    +101.29 (+7.83%)
     
  • S&P 500

    4,141.59
    +13.60 (+0.33%)
     
  • DOW

    33,677.27
    -68.13 (-0.20%)
     
  • CRUDE OIL

    61.20
    +1.02 (+1.69%)
     
  • GOLD FUTURES

    1,745.30
    -2.30 (-0.13%)
     
  • NIKKEI 225

    29,620.99
    -130.61 (-0.44%)
     
  • HANG SENG

    28,900.83
    +403.58 (+1.42%)
     
  • DAX

    15,234.93
    +0.57 (+0.00%)
     
  • CAC 40

    6,216.51
    +32.41 (+0.52%)
     

Pennon may return unit sale cash to shareholders if it fails to find suitable deals

  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
  • Oops!
    Something went wrong.
    Please try again later.

(Reuters) - Pennon Group Plc said on Tuesday it would consider returning proceeds from its 4.2 billion pound ($5.78 billion) sale of its waste management unit to shareholders if it failed to find suitable investment opportunities in the UK water sector.

The South-West Water owner said it is continuing to narrow down its review of potential growth opportunities, and it would make a substantial return of capital to shareholders in the absence of a major value accretive investment opportunity.

The London-listed company, which is on track to deliver financial results in line with management expectations, said it would provide clarity on the returns by the time of its full-year results on June 3.

($1 = 0.7263 pounds)

(Reporting by Shanima A in Bengaluru; Editing by Rashmi Aich)