Thames Water has received a preliminary £7 billion ($8.86 billion) bid from Hong Kong’s CK Infrastructure for a majority stake, according to a report by the Financial Times on Friday, citing sources familiar with the matter.
The report stated that CK Infrastructure’s proposal, made earlier this month, required bondholders of the UK’s largest water supplier to accept significant losses.
This comes just days after Thames Water secured court approval for a £3 billion debt lifeline from senior creditors, helping the utility avoid collapse and a potential state bailout as it struggles with £18 billion in debt. Earlier this month, Thames Water confirmed receiving multiple bids for its equity process but did not disclose the names of potential investors.
Separately, Bloomberg reported on Wednesday that U.S. private equity firm KKR had submitted a nearly $5 billion offer for a majority stake in the company.
Meanwhile, Thames Water has lodged an appeal with the UK’s competition regulator to raise the rates it can charge customers over the next five years. Water regulator Ofwat has approved a 35% increase in bills for 2025-2030—well below the 53% rise the company claims is necessary.
If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates.
Terms of Website Use
All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned
