Thames Water auction in doubt
Published June 18th, 2006
A £7BN auction for Thames Water looks increasingly unlikely following a decision by Australian infrastructure giant Babcock & Brown to walk away from the bidding.
It is understood the financier has a fully financed offer ready to put to RWE.
Babcock, which most recently bought Teesport operator PD Ports for £260m, had teamed up with investment bank UBS in the first step to forming a consortium to buy Britain’s largest water company.
Thames was put up for sale last year when its German owner RWE appointed investment bank Goldman Sachs as adviser.
Related Articles CKI drops out of Thames Water auctionThames Water auctionRBS auctions off Southern Water in 4.2bn pound dealVictorian River Boat for Henley AuctioneBay auction for ’soul’ of Thames whale
