Unlock the Editor’s Digest at no cost
Thames Water has chosen the US non-public fairness group KKR as the popular bidder for the UK’s largest water utility, which is preventing to keep away from renationalisation.
KKR, which is already a shareholder in Northumbrian Water, had submitted a preliminary £4bn bid for Thames Water earlier this yr.
The choice signifies that curiosity from rival suitors together with Covalis, Fortress Water and CK Infrastructure wouldn’t be taken ahead at this stage, stated an individual near the corporate.
Thames Water stated on Monday that after assessing proposals acquired, it had chosen KKR “to enter the part 2 diligence stage” of its equity-raising course of as most well-liked associate.
There was no certainty {that a} binding proposal could be made by KKR, Thames Water added.
It is a creating story.