Thames Water Utility Van at Cty of London on December 3, 2024 in London, Great Britain. Thames Water Utilities Ltd is a large private public company responsible for water supply and wastewater treatment in most of the great London and the surrounding area in England. (Photo Mike Kemp/in Pictures by Getty Images)
Mike Kemp In the pictures Getty images
Private equity investor KKR & CO. According to a person familiar with this case, he offers about 4 billion pounds ($ 5 billion) to take control of the Thames water utility in the British water usability in the redemption directed by the management.
Thames, the largest British water usability serving about 16 million customers in London and the Thames River Valley, is burdened with a balloon debt and warned that there will be no cash until March 24. The process of obtaining additional capital privatized by the Government in 1989, the culmination of which was an announcement last week that he received proposals for redemption from the “number of pages”. Thames said she was studying every offer.
Thames Water must restructure its debt and capital structure as part of a wide return and would benefit from one active owner, a source that knows this matter informed CNBC. Thames was about 16 billion of debt in September last year.
The participation of the KKR would include the submission of a board worth £ 4 billion, which would not cause the sale of assets or the breakdown of utility, the source said.
Thames Water and KKR refused to comment.
Bloomberg announced an earlier Wednesday that KKR offers an injection of almost 4 billion pounds to Thames Water for the majority.
KKR is a long -term investor in Great Britain, who lasted over £ 20 billion since 1996. Private Equity launched the infrastructure investment platform in 2008, looking for investments with a long -term investment horizon.
On Tuesday, the Supreme Court in Great Britain approved 3 billion pounds in an emergency in the event of emergency for Thames Water from existing shareholders, enabling the breath to resist debt restructuring and securing new investors.
Thames Water is part of a group of companies known as Kembe Water Group which are the property of the consortium of institutional shareholders – mainly pension funds and sovereign property funds. The largest shareholder is the pension system of municipal workers in Ontario, one of the greatest pensions in Canada.
Utility with crisis begging He directed criticism for a sharp increase in sewage discharges to British waterways, including a 215 mile Thames, which flows through the capital of the nation.
– Jenni Reid and Sawdah Bhaimiya with CNBC contributed to this report.