Utilities firm Anglian Water Group (AWG) is to sell Morrison, its social housing repair and utilities services business, in a deal that could fetch £300m.

AWG has appointed investment bank NM Rothschild to advise on strategic options for Morrison, including the commencement of a sale process later this year.

Building revealed in August last year that the group was planning a sale.

AWG was taken private last year in a £3.35bn deal by a consortium of infrastructure investors. Prior to that, the group sold its construction arm to Galliford Try for £42m.

AWG acquired Morrison in 2000 for £263m from Sir Fraser Morrison. The two parties have since had a long-running dispute over the correct valuation of the business, which has now been settled out of court.