The failed saga of the privatization of British water companies continues.
Thames Water is undergoing a crisis, spurred by its excessive debt levels and poor environmental performance. The creditor group — which has labeled itself the London & Valley Water consortium — has been working on a rescue. The creditors submitted their proposal, which includes £20.5 billion ($27.4 billion) of investment and operational spending over the next five years.
The London & Valley Water consortium includes Silver Point Capital, Elliott Management Corp. and Apollo Global Management Inc., as well as Aberdeen Group Plc and Assured Guaranty Ltd. The UK government appointed FTI Consulting to advise on a special administration process in case it’s needed.
No comments:
Post a Comment