UK's Thames Water gets near $9 billion bid from CK Infrastructure, FT reports (updated)

CK Infrastructure Holdings

21/02/2025 14:57

(Adds details from FT report, background from paragraph 2)
       Feb 21 (Reuters) - Britain's Thames Water has received a
preliminary 7 billion pound ($8.86 billion) bid from Hong Kong's
CK Infrastructure  1038.HK  for a majority stake, the Financial
Times reported on Friday citing people familiar with the matter.
    The report said that CK Infrastructure indicated that it
would require bondholders of the country's biggest water
supplier to take significant haircuts when it made the proposal
earlier this month.
        Thames Water had this week 
    secured court approval
     for a 3 billion pound debt lifeline provided by senior
creditors, warding off the collapse and state rescue of the
utility struggling with 18 billion pounds of debt.
  
    The utility and CK did not immediately respond to a Reuters
request for comment.
        Thames had said earlier this month that it had 
    received
      several bids for an equity process without naming
potential investors.
  
        
  
        
  
($1 = 0.7903 pounds)

 (Reporting by Pushkala Aripaka and Dhanush Vignesh Babu in
Bengaluru; Editing by Krishna Chandra Eluri and Tasim Zahid)
 ((Pushkala.A@thomsonreuters.com; X and LinkedIn:
@pullthekart;))