22 Jan 2012

CIC buys stake in owner of UK utility

6:55 am on 22 January 2012

China Investment Corporation has bought 8.68% of the company behind Thames Water, a utility in Britain.

The BBC reports the purchase is the fund's first major share purchase in Britain.

Thames Water is owned by Kemble Water, a consortium of investors led by Australian bank Macquarie. No purchase price was disclosed.

Thames Water, which was acquired by Kemble in 2006, is the largest water and sewerage company in Britain. It has about 14 million customers.

CIC was set up in 2007 to invest some of China's $US3.18 trillion in foreign exchange reserves.