EFRA Committee Chair comment on KKR’s withdrawal from plans to invest in Thames Water

Commenting on this morning's news that KKR has pulled out of plans to invest in Thames Water, the Chair of the EFRA Committee, Alistair Carmichael MP, said:

“In our evidence session with Thames Water bosses in May we raised serious concerns that Thames had only pursued one bidder at an early stage for its takeover bid, against the wishes of Ofwat, and highlighted the risks this could pose if KKR chose not to proceed. Unfortunately, our concerns have been realised, putting Thames in a perilous position.

“The Government has shied away from acknowledging the potential impact of this scenario on the public finances and must ensure that any takeover is in the public interest and does not line the pockets of financial institutions further to the detriment of customers and operational performance”.