Thames Water creditors expect Burnham talks despite legal contigency plans Politics The creditors bidding to rescue Thames Water remain confident they will be able to present a revised takeover proposal to Andy Burnham’s government, despite preparing for the possibility ministers reject the deal, a source told Morning Wire. People close to the London & Valley Water (L&VW) consortium said they expected to engage with the new [...]
Exclusive: Reynolds never met Thames Water investors before rejecting rescue deal Water Environment secretary Emma Reynolds never met the investors behind a proposed Thames Water rescue package before slapping down their deal out of hand last month, Morning Wire can reveal. Reynolds, who is the minister responsible for water policy, has left officials in her department to meet representatives of a large creditors’ group, which includes investment [...]
Thames Water creditors offer ‘best and final’ rescue funding deal Water Thames Water’s creditors have offered a “best and final” offer deal involving new debt and equity in a bid to prevent it from falling into a special administration regime. Investment behemoths Elliott Management, Silver Point Capital, Invesco, PIMCO and other creditors behind the consortium London & Valley Water have presented Ofwat, the water regulator, with [...]