Thames Water of the UK, the concessionaire for East Jakarta Water Supply serving some 5 million customers, wished to sell its concession to interested and qualified parties. After a bid process and review, the Recapital Group was the successful bidder and Glendale PT Partners Review were retained to manage the process. The sale of TPJ was part of a major restructuring due to a change in focus of the parent company, RWE, Germany, away from the water business.
Actual Services provided:
Glendale Partners were responsible for all aspects of the acquisition process including review and due diligence of all transactional issues – technical, legal and contractual for the purchase of the East Jakarta Water Supply Concession, a PPP project with Thames Water and PAMJAYA, the Jakarta Government’s water supply company, by the PT Recapital finance group. The Jakarta water concession (East and West) was the largest in the world at the time). The Glendale team was also responsible for securing the major investor partner, and project managing the complete process. The acquisition was completed in 2007.