Macquarie has sold off its final stake in Thames Water, bringing an end to the Australian investment bank's 11 years of investment.

The terms of the deal were not disclosed but Macquarie is thought to have received between £1bn - £1.5bn from Canadian pension fund Omers and the Kuwait Investment Authority for its remaining 26pc stake.

The pair snapped up the stake in Kemble Water, the holding company behind Thames Water, through its infrastructure investment arms Borealis and Wren House.

The deal is understood to have been delayed over the summer following the economic uncertainty created by the UK’s vote to leave the EU.

Peter Mason, chairman of Thames Water, welcomed the pair to the board as new investors in Thames Water and said he looks forward to working towards Thames mission “to provide the essential service that’s at the heart of daily life, health and enjoyment”.