Macquarie, an Australian multinational independent investment bank and financial services company, agreed to acquire a majority stake in Southern Water, the private utility company responsible for the public wastewater collection and treatment in Hampshire, the Isle of Wight, West Sussex, East Sussex and Kent, for £1bn ($1.4bn). "We wholeheartedly welcome Macquarie Asset Management’s investors as long-term shareholders of our business. A £1bn ($1.4bn) equity investment in Southern Water and its group strengthens our balance sheet to enable Southern Water to increase investment in our network and accelerate the transformation plans we have put in place," Keith Lough, Southern Water Chair.