Elliott, Silver Point Among Funds to Sign NDAs for Thames Equity
The interest from the creditors is a positive for Thames Water, Britain’s largest water and sewage firm, which has been seeking new equity investors as part of its efforts to turn around the debt-laden business.
Photographer: Chris Ratcliffe/BloombergFunds including Silver Point Capital and Elliott Management have started carrying out due diligence for a potential equity investment in beleaguered British utility Thames Water.
The investors, which include some of the larger and more senior creditors to the company, have signed a non-disclosure agreement that limits them from trading its debt as they access confidential information, according to people familiar with the matter. The funds want to scrutinize the company more closely as they could either step in as a back-up option to preferred bidder KKR & Co, or co-invest as minority partners, the people said, speaking on condition of anonymity.