CKI not giving up on Thames purchase

(by Verity Mitchell)

CKI has reiterated its interest in purchasing Thames Water, having agreed to sell its UK Power Networks (UKPN) business to Engie in February.

According to reports, CKI Infrastructure Holdings’ joint managing director Andy Hunter said the Thames board is “sleepwalking” into a bad deal for customers with the London & Valley Consortium. He stated that “the next owner of Thames Water should be an experienced, credible, long-term focused operator with the expertise and the resources to fix Thames Water.” He said the consortium of lenders currently in negotiations with Ofwat appeared to have “none of these attributes.”

According to the BBC, there is still “a variety of opinions” within the Ofwat board as to whether to accept the tabled offer from the London & Valley Consortium. A decision by Ofwat is expected in the summer.

CK Infrastructure Holdings will hold a Special General Meeting on 27 April to approve the disposal of UKPN. The proceeds from the sale of £15.8bn are to be used for new “investment or acquisition opportunities… in the UK and beyond,” according to the Group’s 2025 Annual Report.

In the report, the board also said that it looks at acquisitions on a value-add basis and at industries where it can build on existing knowledge with its strong local management teams.