Pennon Group plc (GB:PNN) has released an update.
Pennon Group plc has announced that the Competition and Markets Authority (CMA) is moving to a Phase 2 review of its recent acquisition of Sumisho Osaka Gas Water UK Limited, the holding company for SES Water. The company is working cooperatively with the CMA and Ofwat to offer undertakings by 13 May 2024 that will address regulatory concerns and maintain the benefits of the acquisition for stakeholders. Group CEO Susan Davy expresses confidence in reaching an agreement similar to their previous successful acquisition of Bristol Water.
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