The story
Affinity Water was established through the purchase of Veolia Water's UK water supply operations by Rift Acquisitions, an entity established by Morgan Stanley and M&G Investments, for £1.2 billion on 28 June 2012. The three separate Veolia Water-branded businesses: Veolia Water Central, Veolia Water Southeast and Veolia Water East were brought together as one company, under the Affinity Water brand on 1 October 2012.
Veolia Environment retained a 10% stake in Affinity Water for five years from incorporation, using the proceeds of the disposal to reduce its debt, as part of a €5bn debt-reduction programme announced in December 2011.
In May 2017, a consortium of Allianz, HICL Infrastructure and DIF purchased Morgan Stanley and M&G's 90% holding, followed by Veolia's 10% holding.
From Wikipedia’s article on Affinity Water, shared under CC BY-SA 4.0.5