UK's Pennon buys owner of Sutton and East Surrey Water in $482 mln deal

Adds details, background and CEO comment from paragraph 3

Jan 10 (Reuters) - British water company Pennon Group PNN.L on Wednesday acquired the holding company of Sutton and East Surrey (SES) Water for an enterprise value of 380 million pounds (about $482 million), in a bid to expand its foothold in Southern England.

Pennon also announced a new share issue to raise up to 180 million pounds in connection with the deal.

The acquisition comes as the company is making hefty investments to tackle water quality, leakage and pollution issues, amid intense regulatory scrutiny.

($1 = 0.7881 pounds)

(Reporting by Eva Mathews in Bengaluru; Editing by Savio D'Souza and Varun H K)

((Eva.Mathews@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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