Thames Water Says Equity Deal With KKR Fell Through

Published: 2025-06-03 03:03:15 ET KKR

Published on 06/03/2025 at 03:03

By Maitane Sardon

U.K. utility Thames Water said that KKR is no longer in the running for its equity raise, signaling further uncertainty around its recapitalization to stay afloat.

The British company in March said that it had selected KKR as a preferred partner for an equity raise to help it deal with its debt pile. It warned at the time that bondholders would have had to take losses under the private-equity firm's proposal.

Thames Water said Tuesday that KKR is no longer in a position to proceed, and that its priority access to invest in the equity raise has now expired.

Thames Water intends to progress discussions on the senior creditors' plan with water services regulator Ofwat and other stakeholders, it said.

Write to Maitane Sardon at [email protected]

(END) Dow Jones Newswires

06-03-25 0303ET