Sumitomo buys Surrey water

Japanese trading house Sumitomo has agreed to spend £164.5m on buying Sutton and East Surrey Water Group from Aqueduct, which is owned by investors including Icon Infrastructure. The utility firm, which serves around 655,000 water customers in south east England, had attracted bid interest from CVC and Beijing Water Company. Sumitomo was advised by Nomura, while Aqueduct and Icon took advice from Citigroup and law firm Freshfields.