OrganisationGB
London & Valley Water
A consortium of Thames Water senior creditors proposing to recapitalise it.
Last refreshed: 27 July 2026 · Appears in 1 active topic
Key Question
Can a creditor consortium's rescue keep Thames Water out of special administration?
Timeline for London & Valley Water
#1 20 Jul
Proposed £3.35bn equity and £3.25bn debt for Thames Water
Is Britain Actually Broke?: £6.6bn bid to keep Thames Water privateBackground
London & Valley Water is a consortium of Thames Water's senior creditors, formed to recapitalise the struggling utility after an earlier rescue led by KKR collapsed. It put forward a revised proposal of £3.35bn in new equity and £3.25bn in fresh debt on 21 July 2026, requiring Ofwat's approval, a public consultation and High Court sign-off before it can complete. Elliott Management and Apollo Global Management are among the creditors backing it.
Common Questions
Who is London & Valley Water?
A consortium of Thames Water's senior creditors, including Elliott Management and Apollo Global Management, proposing to recapitalise the utility.Source: Lowdown reporting
How much is London & Valley Water offering for Thames Water?
£3.35bn of new equity and £3.25bn of fresh debt, proposed on 21 July 2026.Source: Lowdown reporting
Does London & Valley Water still need approval?
Yes. The proposal requires Ofwat's approval, a public consultation and High Court sign-off before it can proceed.Source: Lowdown reporting