KKR decided to withdraw from a plan to invest 4 billion pounds ($5.4 billion) in Thames Water Utilities because it could not see a clear way of expanding or upgrading the company's asset base, Bloomberg News reported Wednesday, citing people familiar with the matter
KKR also viewed the performance targets set by the regulator for Thames Water as not achievable, the report said.
Thames Water said Tuesday that after completing phase 2 diligence, "KKR has indicated that it will not be in a position to proceed, and its preferred partner status has now lapsed."
KKR did not immediately reply to a request to comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 121.30, Change: +0.80, Percent Change: +0.66
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.