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United Utilities seals new UK joint venture deal


British water suppliers United Utilities Group and Severn Trent 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 ($4.9 million) 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.-Reuters

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