Thames Water Names KKR as Preferred Bidder for £4 Billion Equity Investment

The UK's largest water supplier seeks to stabilize its finances and address a £20 billion debt crisis while aiming to finalize the deal by June 2025.

Thames Water has selected US private equity firm KKR as its preferred bidder for a £4 billion equity injection, crucial to avoiding financial collapse.
The company recently secured court approval for a £3 billion emergency debt bailout to maintain operations through 2026.
KKR's proposal is expected to result in significant losses for senior bondholders, with discussions on debt restructuring ongoing.
Thames Water faces mounting challenges, including £20 billion in debt, ageing infrastructure, and heightened public scrutiny over its performance.
The departure of CFO Alastair Cochran last week adds to governance uncertainties during this critical period for the company.