29th Sep 2024 12:33
(Alliance News) - Private equity firm Carlyle Group is considering an investment in Thames Water, Sky News reported Saturday.
Ofwat, the independent water services regulation authority for England and Wales, will appoint an independent monitor to Thames Water, the UK's largest water and wastewater company, as soon as next week.
Washington, DC-based Carlyle, which has about USD435 billion in assets under management, is at very preliminary stages of mulling whether an investment in Thames Water Utilities Ltd would be viable.
https://news.sky.com/story/carlyle-joins-list-of-possible-thames-water-rescue-backers-13223719
People close to the process confirmed Carlyle had been approached but noted it was "too early" to judge if the company might participate in a rescue deal via one or more of its funds.
Thames Water is close to financial collapse as its financial liquidity is set to expire months earlier than previously expected.
It has over GBP15 billion of debt.
For the financial year ended March 31, the company had paid a total GBP195.8 million in dividends, up sharply from GBP45.2 million in financial 2023.
By Tom Budszus, Alliance News slot editor
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