Thames Water’s Equity Raise Gets Muted Response From Investors
- CK Infrastructure, Brookfield, Carlyle decided not to bid
- Castle Water has offered to inject £4 billion into utility
Thames is buckling under a £16 billion debt pile while struggling to deal with chronic leaks and sewage spills.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Investors gave a lukewarm response to Thames Water’s equity raise, with several potential bidders ruling themselves out of the process, and the viability of one offer in doubt.
CK Infrastructure Holdings — one of the firms tipped to invest — decided against placing a preliminary bid, according to people familiar with the matter. Thames set a deadline of Thursday for indicative bids.