Private equity giant KKR returns with final bid for Assura June 11, 2025 UK healthcare property firm Assura has received its “best and final offer” from KKR, which is set to trigger another delisting blow for the London Stock Exchange. Assura has recommended a cash offer from Sana Bidco, a vehicle owned by KKR and Stonepeak, which values the firm at 52.1p per share. Shares in Assura closed [...]
Thames Water lenders offer £17bn plan, push Ofwat for ‘regulatory reset’ June 10, 2025 A group of Thames Water’s major creditors have put forward a sweeping, multibillion-pound rescue deal, while calling for forgiveness of historic fines from Ofwat. Major investment firms, including Aberdeen and Elliott Management, are among the investors, who have said they have “the funding and experience required to deliver a transformation of the company’s performance which is intended [...]
Thames Water mess could soon swamp ministers – and taxpayers June 4, 2025 Water takes the path of least resistance, and so – on this occasion as least – does private equity. Apparently deterred by the increasingly hostile political and regulatory environment KKR, the US giant which secured ‘preferred bidder status’ for a takeover of Thames Water, pulled the plug on its £4bn investment over the weekend. They [...]
Thames Water: What next after KKR walks? June 3, 2025 Thames Water was dealt a crushing blow this morning after its preferred bidder, the US private equity giant KKR, abruptly withdrew from its pursuit of the embattled utility. The decision leaves the UK’s largest water supplier without a buyer and puts it back on the brink of administration. It follows just a week after it [...]
Environment secretary says Thames Water has ‘a number’ of options June 3, 2025 Environment secretary Steve Reed told LBC’s Nick Ferrari that there are “a number” of potential investors for Thames Water, just minutes after news broke that US private equity firm KKR had dropped out of a last ditch effort to save the embattled water giant. Reed had already been booked to appear for a ‘Call the [...]
Blow to Thames Water as KKR pulls out of equity raise June 3, 2025 Thames Water’s battle to escape nationalisation has suffered a hammer blow after KKR withdrew its bid to acquire an equity stake in the business. The US private equity giant had been selected as a preferred partner for the debt-laden utility business as part of its efforts to raise funds, with KKR having “prepared detailed plans, [...]
Severn Trent paid over £2m to fight off bill overcharging lawsuit May 22, 2025 Severn Trent paid out more than £2m in legal fees to defend allegations it had overcharged millions of household consumers by underreporting sewage leaks. Professional costs increased by £2.3m last year, according to the firm’s annual report. These were mainly in relation to a class action claim brought against Severn Trent and a number of [...]
KKR lashes out against PHP in Assura bidding war May 19, 2025 Private equity giant KKR has lashed out against rival PHP in its bidding war for GP landlord Assura, arguing that a takeover by its competitor would risk scrutiny from the regulator. In a stock exchange notice this morning, KKR argued that its offer for Assura was “superior” as opposed to the PHP offer which comes [...]
Assura rejects £1.5bn offer as ‘not sufficient’ amid new ‘fair’ KKR bid April 9, 2025 Real estate investment trust Assura has rejected a £1.5bn offer from fellow GP landlord Primary Health Properties (PHP) as too low, and received a fresh bid from KKR. After the development was confirmed, Assura’s share price rose nearly six per cent in early trades. The rejection of the PHP offer follow the refusal last month of [...]
GP landlord Primary Health Properties makes new offer for peer Assura April 3, 2025 GP landlord Primary Health Properties (PHP) has made a new offer for FTSE 250 healthcare real estate investment trust peer Assura, offering a £1.5bn merger to the REIT. PHP has offered £1.5bn for the trust, which would see Assura’s shareholders owning about 48 per cent of the combined group’s shares, which would become the eighth [...]