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...There are also class-action claims brought by campaign groups. In the letter, Coucher warned that the number of “criminal convictions” faced by water companies was too high....
...A group of Thames Water bondholders has demanded an emergency meeting with the troubled utility’s management, seeking clarity on the situation at the UK’s biggest water supplier after its parent company...
...The utilities were privatised debt-free....
...Rishi Sunak has dispatched his business adviser to grapple with the crisis facing Thames Water, in a sign of jitters inside government about the potential collapse of Britain’s largest water utility....
...The owners of South East Water, under investigation for severe supply failures, have provided a £150mn loan to a unit in the utility group as it struggles with higher financing costs on its debt....
...European equities rose on Wednesday, pulled higher by strong gains for utilities and consumer groups. The region-wide Stoxx Europe 600 was 0.1 per cent higher on the day....
...Macquarie, the former owner of Thames Water criticised for loading the utility with debt, is a lender to its stricken parent company....
...The group has a market capitalisation of €21bn. Taqa and the Caixa foundation declined to comment....
...The majority state-owned utilities group is in discussions with private equity firm CVC and infrastructure investment group GIP, which each own Naturgy stakes of roughly 20 per cent, about “a possible acquisition...
...The utility has been grappling with high inflation on overall group debt of £18bn, while the government has drawn up emergency plans in case it requires temporary nationalisation....
...While Elliott has a long record of distressed debt investing, it is best known in the UK for its activist equity bets, including pushing for change at pharmaceuticals group GSK and more recently at Scottish...
...The region-wide Stoxx Europe 600 dropped 0.2 per cent, with utilities and rate-sensitive real estate stocks among the worst-performing sectors....
...Contagion risks include greater regulatory scrutiny for other firms, debt becoming more expensive and short sellers zoning in on the shares of publicly traded water groups....
...the restructuring experts, will discuss all options with creditors, which include bank lenders and bondholders, as the government tries to avoid a temporary renationalisation of the UK’s largest water utility...
...European equities slipped on Thursday, pulled lower by a decline for healthcare stocks and utilities. The region-wide Stoxx Europe 600 was down 0.1 per cent....
...Shouting matches between utility companies and regulators are common in the UK....
...By 2006, when the Australian asset management firm Macquarie bought Thames Water from the Germany utility group RWE, the water company had £3.4bn in debt....
...The union that represents the biggest group of members in the USS called on Thursday for the renationalisation of Thames Water....
...The complexity of Thames Water’s capital structure means that bondholders are now jostling for position, with rival groups banding together and hiring restructuring advisers....
...In 2021, battery group Northvolt built Europe’s first homegrown cell in a gigafactory in Skellefteå....
...Yet the UK engineering group must endure more lengthy approval processes in other countries where it wants to build its nuclear power unit....
...Lane joins from eEnergy Group. Lawrence Summers, former Harvard president and ex-Treasury secretary, joined the advisory board of Palmetto, a clean energy technology company....
...Dan McGrail, chief executive of trade group RenewableUK, said Britain was “regaining its position as the leading market for offshore wind investment”....
...It is struggling with higher interest rates on its £18bn group debt and its parent company said earlier this month that it was in default....
...The utility is also being investigated by Ofwat over the accuracy of information it provides on leakage and water consumption....
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