Thames Water preferred bidder KKR pulls out of rescue deal
by Julia Kollewe and Jasper Jolly from Environment | The Guardian on (#6XQ1S)
Future of troubled supplier in doubt as US private equity group says it cannot proceed with acquiring 4bn stake
The US private equity group KKR has pulled out of a deal to inject fresh equity into Thames Water, leaving the troubled supplier's future in doubt and increasing the prospects of a temporary nationalisation.
The UK's biggest water supplier had picked KKR as its preferred partner, but the company indicated that it will not be in a position to proceed", Thames Water said.
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