Pounds 400m US Splash Lands South Staffs Water; UTILITIES

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Byline: By Duncan Tift Business Staff

Midland utility South Staffordshire Water has been sold in a deal worth around pounds 400 million.

There had been speculation late last week that a deal was in the offing although the destination of the company was uncertain.

The speculation ended yesterday when Arcapita Bank, which acquired the Walsallbased business in 2004, announced it had sold the water company to the Alinda Infrastructure Fund, a pounds 1.5 billion institutional fund managed by New York-based Alinda Capital Partners.

The sale price has not been publicly disclosed, but South Staffordshire's evaluated price was pounds 400 million before the …