(Reuters) - Water suppliers United Utilities Group Plc (>> United Utilities Group PLC) and Severn Trent Plc (>> Severn Trent Plc) said they entered into a joint venture to combine their non-household water and wastewater retail businesses.

The companies said Severn Trent would pay 3.5 million pounds after the completion of the transaction to establish the 50/50 joint venture.

The move comes ahead of the opening of the non-household retail water market in the UK to competition in 2017.

(Reporting by Mamidipudi Soumithri in Bengaluru; Editing by Sunil Nair)

Stocks treated in this article : Severn Trent Plc, United Utilities Group PLC