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01.07.25 - 19:12
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Macquarie digs deeper for redemption at Southern Water. There was no alternative | Nils Pratley (The Guardian)
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Infamous former owner of Thames Water coughs up more capital in bid to turn around badly performing utilityMany took the view in 2021 that Macquarie should have been run out of town, rather than be allowed to own another English water company.The giant Australian financial outfit's former outing, remember, was at Thames Water from 2006 to 2017, which was when the absurd games of financial leverage began at the UK's biggest water company. The then-chair of Ofwat later told MPs he asked himself the question “What do we do here, with that reputation?” when Macquarie made the best financial offer to rescue Southern Water. Continue reading......
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01.07.25 - 12:12
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Southern Water owners to invest up to £1.2bn into troubled utility (The Guardian)
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Australia's Macquarie leads consortium putting up funds to help firm avoid breach of regulatory licenceWhat would happen if Thames Water is temporarily renationalised?Business live – latest updatesThe struggling UK utility Southern Water has secured investment worth up to £1.2bn in a deal led by its majority owner, Macquarie Group, that will help it avoid a breach of its regulatory licence.A consortium led by Macquarie has committed to invest £655m, with a promise of another £245m by the end of the year from existing shareholders and unnamed new investors. Southern could receive another £300m depending on the outcome of a legal appeal to increase the amount it can charge customers. Continue reading......
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