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Wessex Water set for US float

EXECUTIVES AT Wessex Water are set to tap into a fresh wave of windfall profits worth millions when its US parent floats it off on the New York market.

Wessex was bought by Enron of the US, a utility company, for pounds 1.5bn last year netting multi-million payments for chairman Nicholas Hood (pictured) and chief executive Colin Skellett. It is expected that the two men will be granted generous share options when the company floats under its new name, Azurix.