Story: The Thames River suffered a major setback in the battle to avoid nationalization on Tuesday (June 3).
It said U.S. private equity firm KKR has withdrawn from a multibillion-pound rescue plan.
The UK’s largest water supplier has been piled up by its $24.35 billion in debt.
And investing billions of dollars in new equity in KKR to effectively buy the company.
The government said it would be a backup if the Thames water cannot be recapitulated.
And it is necessary to temporarily keep the service.
KKR declined to comment.
The Thames River Water is the center of the public’s opposition to the privatization of the water sector.
This refers to the blame for polluting British rivers and oceans while hiking bills.
and investments that prioritize dividend expenditures over infrastructure.
Public anger at frequent sewage overflows has sparked difficult actions by regulators.
But the Thames owner said the punitive fine was hindering its efforts to turnaround.
The government hopes to reform the department and appoint the committee to do so.
KKR’s withdrawal came a few days after the Thames was fined about $166 million for sewage losses.
