Sutton and East Surrey Water sold to Tokyo corporation

A water company serving the South East is being sold to a corporation based in Japan, it has been announced.

Aqueduct Capital (UK) Ltd has agreed to sell Sutton and East Surrey Water Group to the Sumitomo Corporation in Tokyo, at a price considered to be £164.5m.

Sutton and East Surrey Water and the new owners said the move would not affect day-to-day operations.

The company supplies water to more than 655,000 people in Surrey, Sussex, Kent and London.

Anthony Ferrar, managing director of Sutton and East Surrey Water said Sumitomo had a strategic focus on building and investing in water infrastructure and the company looked forward to playing its part in this "exciting vision".

He said: "The new owners and existing management team of Sutton and East Surrey Water have made it clear that the change of ownership will not affect customers or day-to-day operations of the water supply company."