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The Guardian - UK
The Guardian - UK
Business
Mark Sweney

Struggling Thames Water receives £5bn buyout offer from Covalis

Thames Water SUEZ France Ofwat
A Thames Water van
Thames Water provides water and sewerage services to 16 million customers across London and the Thames Valley. Photograph: Toby Melville/Reuters

Embattled Thames Water has received a £5bn bid from Covalis Capital that would result in France’s Suez Group being brought in to manage a restructure of the UK’s largest water company.

The infrastructure investor Covalis Capital has submitted a bid for Thames Water, which has been on the verge of collapse for several months as it struggles with a £19bn debt pile.

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