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United Utilities, Severn Trent to merge non-household retail units

Reuters

(Reuters) - Water suppliers United Utilities Group Plc (UU.L) and Severn Trent Plc (SVT.L) said they entered into a joint venture to combine their non-household water and wastewater retail businesses.

The companies said Severn Trent would pay 3.5 million pounds after the completion of the transaction to establish the 50/50 joint venture.

The move comes ahead of the opening of the non-household retail water market in the UK to competition in 2017.

(Reporting by Mamidipudi Soumithri in Bengaluru; Editing by Sunil Nair)