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The Latest Breaking News from Thames Water

US private equity giant KKR outbids rival with £1.7bn offer for Assura

Assura said it had reached an agreement on a ‘best and final’ bid led by Kohlberg Kravis Roberts and Stonepeak Partners.

The Independent UK

US private equity giant KKR wins takeover battle for Assura in £1.7bn deal

Assura said it had reached an agreement on a ‘best and final’ bid led by Kohlberg Kravis Roberts and Stonepeak Partners.

Evening Standard

Put Thames Water into temporary state control, ‘junior’ creditors will argue

£5bn rescue plan would set ‘troubling precedent’, bondholders who face losing all of their money will say

The Guardian - UK

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Thames Water lenders offer £17 billion rescue deal in return for looser rules

The deal would also see “several billion” pounds’ worth of debt written off

The Independent UK

Thames Water creditors offer up £5bn as part of emergency turnaround plan

Regulator Ofwat concerned that plans do not write off enough debt to secure investment-grade credit rating

The Guardian - UK

Thames Water’s creditors are being too greedy

If group of lenders has any prospect of getting its proposal to fly, some of its big numbers will have to look very different

The Guardian - UK

Creditors table £17bn plan for Thames Water but call for regulatory leniency

The lenders in the utility are proposing to invest another £3 billion in new equity and £2 billion of funding, but also write off billions of debt.

Evening Standard

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MPs ask minister if he will claw back Thames Water executive bonuses

Chair of troubled firm admits 21 senior managers were paid 50% of base salary on 30 April

The Guardian - UK

Public ownership of England’s water companies could cost close to zero, says thinktank

Exclusive: Common Wealth report argues debt, pollution and underinvestment justify process known as special administration

The Guardian - UK

Bidders demand Thames Water granted immunity over environmental crimes

Exclusive: ‘Ransom note’ requests would leave Environment Agency unable to prosecute company or management

The Guardian - UK

Is the tide turning for wild swimmers? Lawmakers step in to block bonuses for English water bosses behind surging lake and river pollution

Weeks after Thames Water was fined £123 million for pollution and questionable payouts to investors, the UK government has banned bonuses for many of the nation's water company executives

Advnture

The water firms banned from paying bonuses to senior bosses under new laws

Campaign group River Action have called the move a “welcome step” but said that increased salaries should be prevented

The Independent UK

Bonuses banned for 10 English water bosses over sewage pollution

Sanctions, including for Thames Water CEO, announced as part of new government powers under Water Act

The Guardian - UK

Six water companies banned from paying bonuses to senior bosses

New rules ban bonuses if a water company does not meet environmental or consumer standards or does not meet financial resilience requirements.

The Independent UK

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Evening Standard

'Contemptible' Thames Water accused of 'telling lies to the British public' in dividends row

The scathing criticism came as peers discussed a collapsed rescue deal for the debt-laden firm

Evening Standard

Northumbrian Water to pay out £15.7m after sewage and water network failings

Bosses at the watchdog Ofwat said the company’s failures led to ‘excessive spills from storm overflows’.

The Guardian - UK

A race against time: what now for Thames Water after rescue deal collapses?

Huge group of creditors in scramble as prospect of temporary nationalisation looms large for troubled firm

Evening Standard

Thames Water creditors warn of "short and closing window" to agree rescue deal

A group of more than 100 creditors holding £13 billion of Thames Water debt said time is running out

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Evening Standard

Future of formerly at-risk tower house dating to 1800s secured

Culmore Fort has been converted for community use and is set to accommodate mental health support for young people.

The Guardian - UK

Hapless Thames Water is finally drinking in the last chance saloon

Can troubled UK utilities company find any willing suitors after KKR’s 11th-hour abandonment of £4bn bid?

The Independent UK

Thames Water nationalisation ‘not the answer’ says minister after private equity rescue fails

Future of Britain’s biggest water supplier in question as investor pulls out of turnaround plan

The Independent UK

Voices: If the government wants to save Thames Water, it’s going to need to get its hands dirty

COMMENT: As the very public rescue deal for the ailing company collapses, James Moore warns that the government needs to get its hands dirty to clean up the water industry. This game of pass the buck isn’t doing anyone any favours...

Evening Standard

Public ownership ‘not the answer’ says Reed after Thames Water deal collapse

At the despatch box, Conservative shadow environment secretary Victoria Atkins accused ministers of having “talked themselves out of” a rescue plan.

Evening Standard

OPINION - KKR can walk away from the Thames Water fiasco...the rest of us are stuck with it

Even the New York firm that takes on the toughest challenges balked at London’s water supplier

Evening Standard

Water sector suffering from ‘deep-rooted’ failures, review warns

The Government-commissioned review calls for reform of laws, regulation and company management and infrastructure.

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