30/02
28 May 2002
VIVENDI WATER/FIRST AQUA PROPOSED ACQUISITION: COMPETITION
COMMISSION INVITES EVIDENCE
Melanie Johnson, Minister for Competition, Consumers and Markets,
has asked the Competition Commission to look into the proposed acquisition
by Vivendi Water UK PLC (Vivendi Water) of an interest in First Aqua (JVCo)
Limited. The Commission will report to the Secretary of State by 23 September
2002. The report will be published later.
In considering the public interest, the Commission will be
looking at the merger’s effect on the regulatory regime for the water
industry, in particular the ability of the Director General of Water Services
to make comparisons between water enterprises.
The Commission would like to hear from all interested parties,
in writing, by 14 June 2002. To submit evidence please write to:
The Reference Secretary (Vivendi/First Aqua)
Competition Commission
New Court
48 Carey Street
London WC2A 2JT
Or email: vivendi@competition-commission.gsi.gov.uk
The inquiry will be chaired by Peter Mackay. The other group
members will be appointed shortly.
Notes to Editors
- The reference was made under the Water Industry Act 1991 on 23 May 2002
(see DTI Press Notice P/2002/322).
- The Water Industry Act 1991 requires the Secretary of State to make a reference
to the Competition Commission if it appears to her that it is or may be the
fact that arrangements are in progress which, if carried into effect, will
result in a merger of any two or more water enterprises, where the value
of the assets of each company involved exceeds £30million.
- On 7 May 2002, Vivendi Water announced that it had signed a binding agreement
with First Aqua Holdings Limited to acquire First Aqua (JVCo) Limited, the
holding company of Southern Water PLC. Vivendi Water currently owns three
water enterprises in Great Britain: Three Valleys Water PLC, Tendring Hundred
Water Services Limited, and Folkestone and Dover Water Services Limited.
- Further information will be provided on the Commission
website: www.competition-commission.org.uk
- Enquiries should be directed to: Francis Royle, Press Officer Tel: 020
7271 0242
Group Members
Mr P Mackay (Chairman)
Professor D Parker
Mr C Goodall
Mr T Hadfield
Mr P Stoddart FCA
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