March 18, 2020 / 3:28 PM / 14 days ago

British utility Pennon to sell waste management unit for $5 bln, including debt

March 18 (Reuters) - Utility firm Pennon Group said on Wednesday it has agreed to sell its waste management business, Viridor, to U.S. private equity firm KKR & Co Inc for 4.2 billion pounds ($4.95 billion), including debt.

The deal, which has been unanimously agreed by Pennon's board, will result in cash proceeds of 3.7 billion pounds taking into account Viridor's debt, the company said. ($1 = 0.8486 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Shounak Dasgupta)

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