Thames Water announced that it chose U.S. private equity company KKR (KKR) as its preferred partner to lead its recapitalization, The Wall Street Journal’s Adam Whittaker reports. The debt-laden English water company said that it aims to agree on terms in the second quarter before completing its recapitalization in the second half of the year. The utility company announced it selected KKR after a detailed assessment of all the proposals it received, but said there is no certainty a binding equity proposal will be agreed on.
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