Macquarie, the owner of Southern Water, has injected an extra £550 million into the struggling utility company.
This boosts Macquarie’s ownership to over 75% and gives Southern Water a substantial cash boost.
This funding comes two years after Macquarie’s earlier move saved Southern Water from financial trouble.
Back then, Ofwat, the water regulator, had plans to take control of the company. Macquarie‘s new investment adds to the £1.65 billion it had already put in.
Southern Water, which has been facing financial challenges, can now use this new money to improve its operations and implement its Turnaround Plan.
A big chunk of the £550 million, around £375 million, will be used to support more investment in the main part of Southern Water’s business.
The rest of the money, £175 million, will be used for other parts of the Southern Water company.
