ɪn nˈaɪntiːnhˈʌndɹɪd ˈeɪɾi ˈeɪt, ðə nˈuːkæsəl ænd ɡˈeɪtshɛd ænd sˈʌndɚlənd ænd sˈaʊθ ʃˈiːldz kˈʌmpəniz wɜːɹ ɐkwˈaɪɚd ɪn tˈuː sˈɛpɹət ˌɑːpɚɹˈeɪʃənz baɪ lˌaɪənˈeɪz dˈɛs ˈoʊ ˈɛt də ˈɛlˈɛklɛɹɪdʒ lˌaɪənˈeɪz, ɐ kˈʌmpəni lˈɪstᵻd ɔnðə pˈæɹɪs bˈʊɹs, fɔːɹ pˈaʊnd θˈɜːɾi nˈaɪn.wˈʌn ˈɛm ænd pˈaʊnd θˈɜːɾi fˈaɪv.nˈaɪn ˈɛm ɹᵻspˈɛktɪvli.
In 1988, the Newcastle & Gateshead and Sunderland & South Shields companies were acquired in two separate operations by Lyonnaise des Eaux et de l'Eclairage (Lyonnaise), a company listed on the Paris Bourse, for £39.1m and £35.9m respectively.