Thames Picks KKR as Potential Owner to Lead it Out of Crisis
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Thames Water selected KKR & Co. as its preferred partner for the next stage of its efforts to raise equity and turn around the debt-laden business.
Britain’s largest water and sewage company aims to reach an agreement with the US alternative asset manager by the end of the second quarter of 2025, Thames said in a statement on Monday, with a view to finalizing a recapitalization in the second half of this year. The decision means that other offers from bidders including Castle Water Ltd. are off the table for now, according to two people familiar with the process.