What after the Times water?

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The Future of Themes Water is suspended in balance after KKR, American Special Arrows Company, Stay away from a rescue deal worth 4 billion pounds As for the troubled interest that serves 16 million people in London and around it.

The next steps for the company, which is struggling under Mount Dion, will be approximately 20 billion pounds, as it is very important as it tries to avoid temporary nationalization.

Why do you walk?

KKR spent two months in evaluation Deal to save the Times water, With more than 100 people inside and outside the company, they are working on the intensive due care process, which included multiple visits at and around London.

But in the end, she withdrew from the operation immediately after providing official plans separating it from how to direct the Times water.

KKR executive officials in New York arose about the urgent and political uncertainty about the UK water sector, according to people close to discussions, given billions of pounds that will need to adhere to a deal.

People added that concerns are proven about the continuous political overlap in managing the largest water benefit in Britain.

Even the invitation, which the government arranged during the weekend, between the business adviser, Sir Kerr Starmer Varun Chandra, and his co -founder, Henry Karravis, was not enough to disappoint these concerns.

The Times water was left to announce the withdrawal of KKR on Tuesday, on the same day that the government -led review recommended reforming the water sector regulation system.

Will the Times Water lender intervene now?

The Times water must now rely on the backup plan: a re -drawing proposal from the major lenders they obtained A separate emergency loan of 3 billion pounds In March.

The owners of the company’s higher “A” debts also presented a detailed transformation plan to the Times Water and Strip organizer last week, which included the proposed management team to operate the troubled handicraft.

The Times Water category lenders represent more than 17 billion pounds from its debts of 20 billion pounds and include American hedge funds such as Elliot Administration, as well as UK asset managers such as Aberdeen. Low Category B debts are expected to be eliminated in the utility and additional loans in its Holding companies in restructuring.

Senior bond holders indicated that they have obligations to provide billions of pounds in financing new stocks, according to a person close to the group. They will further enhance the public budget of the facilities by removing part of their debts.

While haircuts can be in the range of 25 People in the pound, microscopic dodging depends on the level of concessions on aspects such as fines and other penalties that bond holders can negotiate with Offat.

The 3 billion pounds of emergency loan must be given enough liquidity to continue next year, although the tool must meet certain conditions to continue relying on financing.

Will other showcases return to the table?

In addition to the proposals submitted by KKR and creditors, Themes Water received in March Five other initial stock offers From a group of investors in infrastructure.

The tool’s decision to grant exclusivity to KKR competitors such as CK Infrastructure in Hong Kong, which is part of Li ka-hing’s billionaire Ck Hutchison Group. Offaat has also been thwarted from the Thames Water decision to freeze other showcases of this process, FT said before.

At least one of the offers of the offers who previously Castle water – Water supplier for corporate – shows on Tuesday that “ready, ready and able to support business with the required financing in its place and can move quickly to provide the Times with the operational and financial support it requires.”

Some have questioned whether it was now possible to restore the Times water and its consultants to open the shares removal. A person close to the discussions said that it would be “very difficult” to repeat the extensive due care and the creditors have been carried out in a fast enough time.

Can the Times water be nationalized?

With the supposed rescue of Themes Water, speculation has grown about whether it could become the first water company located in the government’s special management system where the facilities were privatized in England and Wales in 1989.

Under this process, officials will appoint an official to take over the tool, as the UK government provides a loan to finance its operations and ensure continued services. The government can recover this money if the Times water is sold again to the private sector.

The Times water has already avoided sliding to SAR this year. In the absence of an emergency loan from creditors, the utility expects its cash balance He decreased to less than 39 million poundsAnd I have already informed FT.

While the ruling Labor Party insisted that the temporary reinforcement is not in the interest of taxpayers, it is under pressure from my competitors on both sides of the political spectrum.

Charlie Mainard, the liberal Democratic deputy, who led the Public Authority Court of the Times Water, which carries more high -interest debts, said the company had reached the “end of the road” and that the time has come to enter the government.

He said: “The creditors who made billions of debts to the company must now pay to sort this chaos.”

Richard Tess, deputy leader of the Reform in the United Kingdom, said that the company must be decreased in “Saar” against a pound, “which gives shareholders and bond holders.

Tell Tice The Commons: “Emptor Warning”.