{"id":108820,"title":"Emergency Plans Developed for the Potential Nationalisation of Thames Water","publisher":"Share Talk","author":"sharetalk","published":"2023-06-28T07:13:34+00:00","modified":"2023-06-28T07:13:34+00:00","canonical_url":"https://www.share-talk.com/emergency-plans-developed-for-the-potential-nationalisation-of-thames-water/","markdown_url":"https://www.share-talk.com/emergency-plans-developed-for-the-potential-nationalisation-of-thames-water.md","json_url":"https://www.share-talk.com/emergency-plans-developed-for-the-potential-nationalisation-of-thames-water.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["CEO","Ofwat","Sarah Bentley","Slaughter & May","Thames Water","water"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"As Thames Water, a key utility firm, struggles to manage its staggering debt of £14bn, the government is formulating contingency strategies in case of the company’s failure.\n\nThe possibility of an emergency takeover of Thames Water is being examined in Whitehall as the firm urgently tries to secure £1bn from its investors.\n\nMinisters and the water oversight authority, Ofwat, have initiated talks regarding potentially moving the company into a Special Administration Regime (SAR), a move that would translate into a temporary shift of the company into public hands.\n\nhttps://twitter.com/Share_Talk/status/1673951494834384896?s=20\n\nIn the background, the investment bank Rothschild and the law firm Slaughter & May are offering advice on financial strategies for the business. This comes as a £1.4bn bond from the company is due for repayment by the end of the coming year.\n\nLast June, shareholders agreed to infuse £500m into Thames Water, which is tasked with providing water to one-quarter of UK households, as the company tried to tackle significant leakage issues.\n\nThis news coincides with the sudden resignation of the company’s CEO, Sarah Bentley, who stepped down with immediate effect this Tuesday."}