Middle East: Bahrain bank buys UK water firm

AquaInvest, a subsidiary of the Bahrain-based First Islamic Investment Bank, has made a successful bid for South Staffordshire Water. The £142.6 million deal included a 27 percent premium on the utility’s share value when takeover talks began. South Staffordshire Water is one of about 20 private water utilities that operate alongside recently-privatized state concerns.