Britain's biggest water company has hired Rothschild and Slaughter & May to help evaluate financing options for its vast balance sheet, Sky News learns.
Ms Bentley recently declared that she was"heartbroken" about the company's historical failings, blaming"decades of underinvestment".In 2021, it was hit with a £4m penalty for allowing untreated sewage to escape into a river and park, while in August 2021, it was ordered to pay £11m for overcharging thousands of customers.
"We've…made progress improving some of our performance metrics with a 43% reduction in customers' complaints, as well as reductions in total pollutions and sewer flooding incidents. Its largest shareholder is Ontario Municipal Employees Retirement System , a vast Canadian pension fund, which holds a stake of nearly 32%, according to Thames Water's website.
The company has not paid its owners a dividend for nearly six years, and some shareholders are said to be increasingly keen to offload their holdings. "This requires companies to prepare properly for population growth and the impact of climate change."
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