Thames Water Enters Key Month to Hammer Out Terms of Rescue Deal
Thames Water's financial rescue is entering a decisive month, as suitors haggle over creditor losses and the future of the indebted utility.
US infrastructure giant KKR & Co. and a group of the company's creditors including Silver Point Capital and Elliott Management are due to submit their plans for fixing Thames to regulator Ofwat by the end of Friday. Negotiations are expected to run throughout June with agreement in summer — but for that, the successful bidder will need to cut a deal with the debtholders that currently control the company on the scope of their losses.
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