(Bloomberg) — The owners of Thames Water Utilities Ltd. will start restructuring talks in the coming days as parent company Kemble Water Holdings Ltd. faces potential insolvency, the Financial Times reported, citing unidentified people familiar with the matter.
Restructuring experts Alvarez & Marsal will discuss all options with creditors, which include bank lenders and bondholders, according to the report.
Thames Water and Kemble declined to comment to the Financial Times.
Shareholders last week declared Thames Water “uninvestable,” refusing to inject £500 million ($631 million) of equity after the regulator indicated there was no leeway on the terms for the company’s reinvestment plan. That has raised questions from how Thames will invest in needed repairs and infrastructure to whether it may need to be temporarily nationalized.
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