Thames Water dealt fresh blow as potential investor drops out of deal to prop up embattled firm
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Concerns Thames Water may need government bailout as bidder withdraws
- US private equity firm KKR has withdrawn from plans to invest over £3 billion in Thames Water, a heavily indebted water supplier.
- Thames Water is now in talks with senior creditors for an alternative plan to stabilise its finances, engaging with regulator Ofwat and other stakeholders.
- Thames Water chairman Sir Adrian Montague expressed disappointment but affirmed his commitment to working towards “sustainable recapitalisation”.
- The withdrawal of KKR raises concerns about a potential temporary government nationalisation if a rescue deal cannot be secured.
- Thames Water faces approximately £19 billion in debt, and a recent report called for a "fundamental reset" of the water sector in England and Wales due to systemic failures.