Roula Khalaf, Editor of the FT, has handpicked the Editor’s Digest, a weekly newsletter packed with captivating stories that are bound to keep you informed and engaged.
Breaking news has surfaced regarding Thames Water, as Covalis Capital steps in with a bid that could result in a significant shift for the UK’s largest water utility. The proposal involves France’s Suez joining forces to assist in managing a division of Thames Water, subsequently leading to its listing on the stock market.
Here are the key points surrounding this groundbreaking development:
- Covalis Capital’s bid seeks to alleviate Thames Water’s £19bn debt burden and financial uncertainty.
- The UK government will retain a stake in Thames Water through a ‘golden share,’ entitling them to certain board rights and privileges.
- Suez will be onboard as the operating partner under the deal, without acquiring any shares in Thames Water.
- Potential buyers also include CK Infrastructure Holdings and Castle Water, each eyeing a strategic move in the water utility sector.
As we await final submissions in January, the fate of Thames Water hangs in the balance. The battle for ownership and control of this vital utility continues, with Covalis Capital leading the charge towards a possible transformation.
Stay tuned as developments unfold, paving the way for a future where Thames Water navigates through a sea of challenges towards stability and sustainability.
