BIRMINGHAM (dpa-AFX) - Severn Trent Plc (SVT.L) announced the sale of its North American business (Operating Services, US) to US investors PPC Enterprises LLC and Alston Capital Partners LLC. The sale values the business at 48 million pounds. The Group will use the proceeds for general corporate purposes.
Liv Garfield, Severn Trent Chief Executive, said: 'The North American division is a strong business that will be better able to grow and flourish under a new USA-based owner. Its sale enables the Severn Trent Group to focus on its core strategic activities.'
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