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Reading: KKR deserted Thames Water rescue regardless of No 10 talks with Kravis
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Michigan Post > Blog > Business > KKR deserted Thames Water rescue regardless of No 10 talks with Kravis
Business

KKR deserted Thames Water rescue regardless of No 10 talks with Kravis

By Editorial Board Published June 3, 2025 2 Min Read
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KKR deserted Thames Water rescue regardless of No 10 talks with Kravis

The funding large lined as much as rescue Thames Water deserted its provide days after talks befell involving one in all its co-founders and Downing Avenue officers.

Sources near the now-abandoned deal mentioned the decision between the pair had been organised following a request from Thames Water and its advisers at Rothschild.

Cash newest: Capital good points tax defined for second dwelling sellers

An insider mentioned the dialogue had been “constructive”, with Mr Chandra mentioned to have sought to reassure Mr Kravis that the federal government was supportive of the deal.

One supply near KKR mentioned, nevertheless, that its senior New York-based executives have been unable to get comfy with the extent of operational and monetary danger connected to investing as a lot as £4bn of fairness into Thames Water.

They have been additionally involved about detrimental rhetoric directed at Thames Water and the remainder of the trade in latest weeks by Steve Reed, the surroundings secretary, and different ministers, the supply added.

KKR’s determination to tug out of the discussions leaves the water firm, which serves greater than 15 million prospects throughout London and the Thames Valley, counting on another deal being assembled by its greatest bondholders.

That proposal is being progressed, Thames Water mentioned on Tuesday, though the spectre of non permanent nationalisation continues to loom over it.

The corporate was fined a document £123m by Ofwat, the trade regulator, final week, and faces additional substantial penalties within the coming months.

KKR has been contacted for remark.

TAGGED:abandonedKKRKravisrescueTalksThamesWater
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