Thames Water creditors name former minister to lead rescue bid
A creditor group pursuing a £10bn takeover of Britain's largest water supplier has appointed Lord John Hutton as independent chair designate.
At a glance
- Creditor consortium London & Valley Water pursuing £10bn rescue deal for Thames Water
- Lord John Hutton named as independent chair designate if takeover proceeds
- Move aims to win government support for the transaction
A consortium of Thames Water creditors called London & Valley Water has selected Lord John Hutton, a former senior Labour minister, as independent chair designate of the company's board, contingent on the group's takeover proceeding.
The appointment is part of the creditor group's £10bn rescue deal for the struggling utility, as it seeks to secure government backing for the transaction.
Why it matters
Thames Water is Britain's largest water supplier. The rescue deal represents a significant intervention in the UK's essential water infrastructure.
Original reporting
- The Guardian — WorldThames Water creditors secure former Labour minister to drive rescue deal
- The Guardian — BusinessThames Water creditors secure former Labour minister to drive rescue deal
This brief was written with AI assistance from the reports listed above and checked against our editorial policy. Spotted an error? Request a correction.