Funds managed by Macquarie Group's (ASX:MQG) Macquarie Asset Management subsidiary will provide 245 million pounds sterling in equity to Southern Water in the UK under a binding equity commitment from the group's parent company, Sandstone Bidco, according to a London Stock Exchange filing on Wednesday by Southern Water.
In addition, Sandstone, through the funds managed by Macquarie Asset Management, plans to support Southern Water to further reduce its leverage to 65% by 2029 from around 74% as of March 31.
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