Thames Water picks KKR as preferred bidder in equity rescue

Thames Water has chosen KKR as its preferred bidder (PA) - (PA Archive)

Troubled utility Thames Water has chosen US private equity giant Kohlberg Kravis Roberts (KKR) as its preferred bidder as it looks to secure a buyer to help stabilise its finances.

The heavily-indebted supplier – England’s biggest water firm, with about 16 million customers – said KKR would now go through to a second phase of the process to secure equity investment.