Slaughter and May is advising Pennon Group on its rights issue to raise gross proceeds of approximately £490 million

Slaughter and May is advising Pennon Group plc, an infrastructure group focused on the UK regulated water sector and owner of South West Water, Bristol Water, Bournemouth Water and SES Water, on its rights issue to raise gross proceeds of approximately £490 million, as announced on 29 January 2025. The rights issue, which is fully underwritten, forms part of Pennon’s comprehensive financing package to realise its record £3.2 billion capex investment plan for 2025-2030.

Slaughter and May worked as part of an integrated team with the Pennon in-house legal team, led by Andrew Garard (Group General Counsel and Company Secretary).