US utility Citizens Utilities this week appointed Cubitt
Consulting, the financial communications consultancy founded last month
by former Citigate Communications managing director Simon
Brocklebank-Fowler, to handle its pan-European investor relations.
The agency was appointed this week after a three-way pitch. Cubitt
declined to comment on fees for the annual contract, but they are
believed to be in excess of pounds 100,000.
The appointment comes in the wake of Citizens’ decision to de-merge into
two separately listed companies by the end of 1999. The companies have
not yet been named, but one will focus on telecommunications and the
other on utilities such as gas and electricity.
US agency Christensen Investor Relations Consultancy will handle
investor relations for the American market. Citizens is listed on the
New York stock exchange with a market valuation of over pounds 1.3
billion.
Brocklebank-Fowler said: ’The de-merger will enable the company’s
shareholders to invest in sectors in which they are most interested. We
are delighted to support Citizens during such a critical phase in their
corporate development.’
Cubitt’s brief will include raising the profile of the two separate
companies throughout Europe and providing general strategic
communications advice.
