Roula Khalaf, the Editor of the Financial Times, curates a selection of her favored stories in a weekly newsletter called the Editor’s Digest, available to readers at no cost.
Thames Water has identified the US-based private equity group KKR as the preferred bidder for the UK’s largest water utility. The company is currently attempting to prevent renationalization. Earlier this year, KKR, which already holds shares in Northumbrian Water, submitted an initial bid of £4 billion for Thames Water.
This selection indicates that the interests of other potential bidders, such as Covalis, Castle Water, and CK Infrastructure, will not proceed at this time, according to a source familiar with the company’s matters.
On Monday, Thames Water announced that after evaluating the proposals received, KKR has been chosen to advance to the second phase of due diligence in its equity-raising process as the preferred partner. Thames Water also noted that there is no guarantee that KKR will eventually make a binding proposal.
This situation is still developing.
