KKR drops out of Thames Water rescue deal

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Thames Water has announced that the US Private Equity Farm will not move forward with a planned agreement for billions of pound equity injections to thwart the future of the largest water utility of Britain.

Thames Water selected KKR as his preferred partner for the Equity Rectalization Agreement, under which the US firm would accept the near-inward utility and rescue it from the door to nationalization.

However, Thames Water said on Tuesday that “KKR indicated that it would not be in a position to move forward and its preferred partner’s condition is now reduced”.

Thames Water is also discussing a backup rebuilding plan with his senior ND donors. The utility on Tuesday said that it was intended to “discuss progress” in the plan with the water regulator of Wat and “other stakeholders”.

A person close to senior bondholders has said that they have already submitted a detailed plan for their own agreement to the regulator, including the proposed management team to manage the utility.

“Today’s news is disappointing today, we believe that a sustainable rebuilt of the company is in the most interest for all stakeholders, and is working with our Credit Docusers and Stekholders to achieve this goal.”

The KKR London and surrounding water and waste treatment facilities work intensely due to 10 weeks of intensive work on Thames Water Techover, including multiple site visits.