This consortium has reached an agreement with Northumbrian on the terms of a recommended cash offer by which all of the issued share capital of Northumbrian will be acquired by the consortium.

The enterprise value of this acquisition is approximately £4.8 billion.

The consortium's members include CKI, Cheung Kong (Holdings) Limited and the Li Ka Shing Foundation. Their shareholdings are 40 per cent, 40 per cent and 20 per cent respectively.

Northumbrian’s board of directors has unanimously recommended that it’s shareholders vote in favour of the offer.

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It is expected that the acquisition will become effective in October 2011.