StockMarketWire.com - Power and water utility for businesses Yu said it had acquired Bristol City Council's business-to-business customer book.

Yu said it had paid £1.24m in cash on completion of the deal and acquired £1.0m of receivables of which the majority was due for payment to Yu in August.

A further £100k was payable by the company deferred for three months. It had also assumed liabilities of £580k payable in August 2021.

The acquisition would add about 4,000 meter points to Yu's current meter portfolio of about 9,800, an increase of around 40%.




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