StockMarketWire.com - Water utility Pennon Group said its subsidiary Viridor Waste Management had upped its stake in a UK waste-to-power plant for £54.5m.

Viridor had exercised its pre-emption rights to buy an extra 37.5% economic interest and 20% voting rights in the Runcorn I Energy Recovery Facility, which was put up for sale by John Laing Investments.

The deal brough Viridor's stake in the project to 75%, with 40% voting rights. At 1:10pm: [LON:PNN] Pennon Group PLC share price was +2.1p at 711.7p



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