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Arcapita sells South Staffs

Bahrain's Arcapita Bank and its affiliates have completed the sale of South Staffordshire, a UK based water company, to the Alinda Infrastructure Fund for an unspecified sum. Arcapita acquired South Staffordshire in November 2004 and the firm has said that over the three year holding period, the investment has delivered more than double the original targeted rate of return. Reports last month put the transaction at around $800m.