Preferred Advisors Announced For Waterway Review

17 August 2007

British Waterways (BW) has appointed, subject to contract, a joint team of KPMG and Merrill Lynch as its preferred advisor, to review the options for its future status, and to recommend any changes that would improve the long term sustainability of the waterways.

The detailed terms of reference for this appointment are now in preparation in discussion with the governments in London and Edinburgh . The terms of reference will be considered by the BW Board in September.  As previously stated, privatisation is not the policy of the Governments or British Waterways' Board.

The review was commissioned by British Waterways as part of joint work with the Department for the Environment, Food and Rural Affairs (Defra) seeking opportunities for British Waterways to increase investment in our waterways as a living national heritage asset which contributes strongly to regeneration and public enjoyment of the environment.

The report of the review is expected in the new year .

ENDS

Media enquiries should be directed to David Young, External Relations, British Waterways. Tel: 01923 201348 or 07747 897783