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Thames Water Utility Van at the London CTY on December 3, 2024 in London, the United Kingdom. Thames Water Utilities LTD is a large private services company responsible for the treatment of water and wastewater supply in most large London and surrounding areas of England. (Photo of Mike Kemp/in pictures through Getty Images)
Mike kemp | In images | Getty images
Private capital investor KKR & CO. It is offering around £ 4 billion ($ 5 billion) to take control of the usefulness of the thames of the United Kingdom in a purchase directed by management, according to a person familiar with the matter.
Thames, the largest water utility in Great Britain that serves about 16 million customers in London and the Thame River Valley, is loaded with globe debts and warned that it will run out of March 24. Privatized by The Government of Thatcher in 1989, Thames last summer began last summer, began last summer, began last summer. Additional capital collection process, which culminated in an announcement last week that he had received proposals to buy a “number of parties.” Thames said he was studying each offer.
Thames Water needs to restructure its debt and capital structure as part of a wide change, and would benefit from a single active owner, said a source familiar with the matter to CNBC. Thames owed around 16 billion in debt as of last September.
KKR’s participation would include a management of management of £ 4 billion that would not result in the sale of assets or a rupture of the public services company, said the source.
Thames Water and Kkr declined to comment.
Bloomberg reported early on Wednesday that KKR was offering to inject almost 4 billion in the water of Thames for a majority participation.
KKR has been an investor for a long time in the United Kingdom, which has channeled more than 20 billion in the country since 1996. The private capital firm launched a platform for infrastructure investments in 2008, looking for investments with an investment horizon In the long term.
The Superior Court of the United Kingdom approved on Tuesday £ 3 billion in emergency funds for the water of the thames of existing shareholders, which allows the space to breathe to the company to restructure its debts and ensure new investors.
Thames Water is part of a group of companies known as Kemble Water Group which are owned by a consortium of institutional shareholders – Mainly pension funds and sovereign wealth funds. The largest shareholder is the retirement system of municipal employees of Ontario, one of the largest pensions in Canada.
The utility full of crisis He has faced criticism for a strong increase in wastewater discharge In the river paths of Great Britain, including the Thames of 215 miles long, which flows through the capital of the nation.
– Jenni Reid and Sawdah Bhaimiya of CNBC contributed to this report.