Utd Utilities In Us Disposal

United Utilities, the water and electricity group, is selling Norweb's generation interests in the US to Indeck North American Power Fund for $40m (£25m) cash. Indeck is a private fund which owns and operates independent power projects. United paid £1.8bn for Norweb, the regional electricity company, in 1995. The sale brings the amount raised so far in United's disposal programme to about £459m, against an original target of £350m.