Deal Announcement

DC Advisory advised OPTrust on the sale of a 4.3% stake in Thames Water

01 Aug 2017

Thames Water is the largest provider of water and wastewater services in the UK

The company supplies c.2.6bn litres of drinking water to c.9m customers across London and the Thames Valley region

DC Advisory (DC) were engaged by OPTrust to provide advice in relation to potential options for its interest in Thames Water

DC ran a multi-phase process targeting both existing investors looking to increase their ownership stake and external investors seeking to acquire an interest in the business

Following a multi-phase sale process OPTrust entered into exclusive negotiations with USS (Universities Superannuation Scheme), a £50bn UK pension scheme. USS are experienced investors in regulated infrastructure assets

On 24 July 2017, USS announced the acquisition of a combined 10.9% stake in Thames Water from investors Qsuper, Alberta Investment Management Corporation (AIMCo) and OPTrust, making USS the third largest shareholder in the company

Deal Team

Sergio Ronga

Managing Director
United Kingdom

Morgan McCormick, Managing Director, OPTrust, commented: “With the sale of our stake in Thames Water, we conclude a highly successful investment in this core infrastructure business and bring an end to our 11 year association with the company. We welcome USS as a new investor as the company embarks on another chapter in its development. I would like to thank DC for their efforts on this deal. Their work ethic, professionalism and judgement throughout the transaction was critical to the excellent result.”