Thames Water chooses KKR for recapitalization lead role

Investing.com -- Thames Water, the English utility company burdened with debt, announced on Monday that it has selected U.S. private equity firm KKR as its preferred partner to spearhead its recapitalization efforts.

The company plans to finalize the terms in the second quarter and aims to complete the recapitalization process in the second half of the year.

The decision to choose KKR came after a comprehensive evaluation of all the proposals the company received. Despite this selection, Thames Water clarified that there’s no guarantee that a binding equity proposal will be agreed upon.

The agreement is subject to due diligence and regulatory approvals. In the meantime, senior creditors, who have not been named, are having simultaneous discussions on other recapitalization options, according to the company’s statement.

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