The company is based in the north-east of England

Bosses at Northumbrian Water say no jobs will be lost, as a result of the company's �2.2bn takeover.

The company, which has headquarters in Durham, supplies water to over four million homes across the country.

Former owner Suez has sold 75% of its holding to a consortium of institutional investors and retains 25%.

The company supplies water to 4.3 million homes and sewerage services to 2.6 million and has operations in the north-east of England, Essex and Suffolk.

Investment specialists

The deal is to see the firm, which has headquarters in Durham and Chelmsford, return to the stockmarket for the first time since 1995.

The consortium, to be renamed Northumbria Water Group plc, comprises Deutsche Bank, stockbrokers Collins Stewart and utility investment specialists Ecofin.

The company's managing director John Cuthbert says the deal will have no effect on its 3,500 employees.