Stock Market News

KKR exploring investment in Thames Water share plan, Sky News reports

2024.11.02 08:30

(Reuters) -U.S. investment group KKR is in talks with troubled British utility Thames Water and its advisers about participating in a 3 billion pounds ($3.88 billion) share sale which forms part of a wider recapitalisation plan, Sky News reported on Saturday.

Both Thames Water and KKR declined to comment.

Thames Water, which serves about 16 million people in and around London, is at the centre of a crisis over sewage dumping, crumbling pipe networks and huge debts.

The utility, Britain’s biggest water supplier, said in October it had lined up a financing lifeline of up to 3 billion pounds with some of its creditors in a deal which if approved will help it survive for another year at least.

KKR is among a small number of investors studying Thames Water’s finances with a view to supporting a rescue share sale, the report said, citing people familiar with the matter.

KKR’s decision hinges on a final determination by water regulator Ofwat which is due by January at the latest, according to the report. It was unclear which of KKR’s funds was participating in the Thames Water equity-raise, Sky News added.

However, one obstacle to KKR buying a big stake in Thames Water may be its 25% holding in Northumbrian Water, the report said.

Under Ofwat’s mergers regime, the Competition and Markets Authority would need to review the deal, although there would not be an automatic prohibition, Sky News said.

© Reuters. FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid/File Photo

The British government has been on standby to place Thames Water into a special administration regime given the risk of a financial collapse.

($1 = 0.7736 pounds)



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 100,110.82 0.03%
ethereum
Ethereum (ETH) $ 3,933.14 1.51%
xrp
XRP (XRP) $ 2.44 4.20%
tether
Tether (USDT) $ 1.00 0.02%
solana
Solana (SOL) $ 230.87 2.57%
bnb
BNB (BNB) $ 733.55 1.07%
dogecoin
Dogecoin (DOGE) $ 0.445786 3.46%
usd-coin
USDC (USDC) $ 1.00 0.25%
cardano
Cardano (ADA) $ 1.14 5.29%
staked-ether
Lido Staked Ether (STETH) $ 3,930.61 1.46%
tron
TRON (TRX) $ 0.301963 4.21%
avalanche-2
Avalanche (AVAX) $ 50.57 2.24%
shiba-inu
Shiba Inu (SHIB) $ 0.00003 5.40%
the-open-network
Toncoin (TON) $ 6.54 3.19%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,638.16 1.78%
chainlink
Chainlink (LINK) $ 25.43 3.75%
polkadot
Polkadot (DOT) $ 9.73 7.15%
stellar
Stellar (XLM) $ 0.463124 5.06%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 99,670.70 0.08%
bitcoin-cash
Bitcoin Cash (BCH) $ 606.81 2.06%
sui
Sui (SUI) $ 4.06 3.68%
hedera-hashgraph
Hedera (HBAR) $ 0.310377 5.35%
pepe
Pepe (PEPE) $ 0.000026 5.55%
weth
WETH (WETH) $ 3,922.79 1.76%
uniswap
Uniswap (UNI) $ 17.41 7.87%
litecoin
Litecoin (LTC) $ 126.25 5.86%
near
NEAR Protocol (NEAR) $ 7.28 4.89%
leo-token
LEO Token (LEO) $ 9.41 1.98%
wrapped-eeth
Wrapped eETH (WEETH) $ 4,146.31 1.48%
aptos
Aptos (APT) $ 13.60 5.84%
internet-computer
Internet Computer (ICP) $ 13.61 5.81%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.25%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.654981 6.87%
usds
USDS (USDS) $ 1.00 0.37%
ethereum-classic
Ethereum Classic (ETC) $ 35.15 4.66%
vechain
VeChain (VET) $ 0.063955 6.06%
crypto-com-chain
Cronos (CRO) $ 0.189695 5.37%
render-token
Render (RENDER) $ 9.73 4.96%
bittensor
Bittensor (TAO) $ 673.17 4.09%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.89 7.78%
kaspa
Kaspa (KAS) $ 0.180359 2.21%
arbitrum
Arbitrum (ARB) $ 1.09 5.55%
filecoin
Filecoin (FIL) $ 7.24 7.14%
hyperliquid
Hyperliquid (HYPE) $ 13.07 9.58%
aave
Aave (AAVE) $ 277.98 1.46%
mantle
Mantle (MNT) $ 1.19 6.58%
mantra-dao
MANTRA (OM) $ 4.17 2.82%
algorand
Algorand (ALGO) $ 0.471767 5.29%
blockstack
Stacks (STX) $ 2.54 3.93%
monero
Monero (XMR) $ 203.22 0.78%