Thames Water

A consortium of Thames Water's creditors, featuring prominent firms such as Apollo Global Management and Elliott Management, has put forward a comprehensive rescue plan for the embattled utility company. This proposal includes a substantial £3.35 billion equity injection, aimed at averting potential special administration and public control, and facilitating a significant recapitalisation.

Summary of transaction details:

• Value: £3.35 billion of fresh equity proposed
• Sector: Utilities
• Advisor: Not mentioned
• Key Entities: Thames Water (Target); Apollo Global Management, Elliott Management, Farallon Capital Management, Silver Point Capital (Proposed Investors/Creditors)
• Location: United Kingdom (implied for Thames Water)

Note: This proposed rescue package seeks to address Thames Water's considerable debt burden and ageing infrastructure, with the creditors aiming to restore the company's financial stability and avoid a costly intervention by the taxpayer, amid ongoing discussions regarding public ownership.