UK engineering solutions provider Costain Group Plc exited its minority stake in three joint ventures to publicly traded water utility Severn Trent Plc to raise investment funds and working capital.
Severn Trent Plc spent GBP19 million for counselling, legal and related costs in its buyout approach.
The British water company refused negotiations before deadline of bid.
LongRivers Partners to make a new bid for water utilities firm Severn Trent Plc.
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