The appointment of Goldman Sachs was led by chief financial officer, Russ Houlden, the Sunday Times reported, after six banks had been considered to take on the role. The investment banking firm will work with Deutsche Bank, United Utilities existing bank and JP Morgan, its corporate broker. United Utilities is believed to be fending off a takeover and to have appointed Goldman Sachs in a defensive role.
Sources close to the water firm tried to play down talk of a takeover suggesting instead the appointment was part of a periodic review.
United Utilities declined to comment on Goldman Sachs’ new role and said it would not comment on market speculation.