Thames Water Utility van in London Cty in London on December 3, 2024 in London, the United Kingdom. Thames Water Utilities LTD is a large private utility company responsible for supplying water and wastewater in most larger London and surrounding areas in England. (Photo Mike Kemp/in Picture via Getty Images)
Mike Kemp | In pictures | Getty Images
Private capital investor KKR & CO. It offers around £ 4 billion ($ 5 billion) to take control of British combat service service service service service service in the management service, you get acquainted with this question.
Thames, Britain’s largest water utility service that serves around 16 million customers in London and the Thames River Valley, is obsessed with Ballon’s Duga and warned that he would run out of cash by March 24. Privatized by the Thatcher Government in 1989, Thames began last summer the process of collecting additional capital, which culminated last week the announcement that it had received the purchase proposals from the “number of parties”. Thames said she was studying every offer.
Thames Water has to restructure its debt and capital structure as part of a broad turnaround, and would benefit from an active owner, said a source who is familiar with this issue for CNBC. Thames owed about 16 billion pounds of debt since last September.
The involvement of the KKR would contain an application for management of £ 4 billion, which would not result in the sale of assets or by the termination of utilities, the source said.
Thames Water and Kkr rejected the comment.
Bloomberg reported earlier on Wednesday that KKR offers injection of almost £ 4 billion in Thames Water for a majority share.
KKR has been a longtime investor in the UK, and since 1996 has inserted more than £ 20 billion since 1996. Private capital company has launched an Infrastructure Investment Platform in 2008, seeking investments with a long -term horizon of investment.
The High Court in the UK on Tuesday approved £ 3 billion for Emergency Cases for Thames Water from existing shareholders, allowing a municipal breathing room to restructure its debts and provide new investors.
Thames Water is part of a group of companies known as Kemble Water Group who are owned by a consortium of institutional shareholders – Mostly pension funds and sovereign wealth funds. The largest shareholder is the system of retirement of Ontario municipal employees, one of the largest Canadian pensions.
Crisis-placement usefulness faced criticism over a sudden increase in the release of sewage In the British waterways, including a 215 -mile -long -based Thames, which flows through the capital of the state.
– CNBC -ov Jenni Reid and Sawdah Bhaimiya contributed to this report.
