Thames Water spent £20mn on failed KKR rescue due diligence
Thames Water reportedly paid over £20 million to cover KKR’s due diligence costs for a rescue bid that ultimately collapsed. The payment comes as the financially strained utility faces mounting pressure from £20 billion in debt and crumbling infrastructure, with customers potentially footing the bill for advisory fees.
Thames Water, the UK’s largest water utility currently teetering on the brink of financial collapse, paid more than £20 million to cover a private equity firm’s due diligence costs for a rescue bid that never materialized, according to recent reports. The substantial payment to KKR has raised fresh concerns about cash leakage from the troubled company at a time when it’s struggling under £20 billion of debt.
