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British water and sewage utility Thames Water said on Tuesday that a US investment firm has dropped a rescue bid for the debt-burdened company. Thames Water said private equity company KKR decided not to make a bid and its status as preferred bidder had lapsed. The utility said it is talking to "senior creditors" about an alternative money-raising plan. "Whilst today's news is disappointing, we continue to believe that a sustainable recapitalisation of the company is in the best interests of all stakeholders. We will continue to work with our creditors and stakeholders to achieve that goal," Thames Water chairman Arian Montague said. The cash-strapped company, which provides water and sewage services to 16 million people in and around London, has teetered on the edge of insolvency under about 19 billion pounds ($26 billion) in debt. The utility received court approval in March for 3 billion pounds in emergency funding to keep it from falling into government administration. KKR's ..
The Competition Commission of India (CCI) on Monday approved global investment firm KKR's proposal to acquire a stake in home-grown food-tech company Rebel Foods. US-based KKR (Kohlberg Kravis Roberts & Co), through its affiliate -- Royce Asia Holdings II Pte, is acquiring a stake in Rebel Foods, which owns Faasos, Behrouz Biryani, Oven Story and other cloud kitchens. "By way of the proposed transaction, Royce proposes to acquire certain equity shares and compulsorily convertible preference shares of Rebel Foods (on a fully diluted basis) by way of a secondary purchase," CCI said. Founded in 2011 by Jaydeep Barman and Kallol Banerjee, Mumbai-based Rebel Foods has 450 kitchens across 10 countries, including India, Indonesia, the UK and the United Arab Emirates. "There are no horizontal overlaps and or vertical/ complementary links between the activities of the parties (Royce Asia Holdings II and Rebel Foods) and their respective groups/ affiliates, in India. "Accordingly, absent ..
Bought back by Kolkata Knight Riders for a whopping Rs 23.75 crore at the IPL mega auction here, Venkatesh Iyer on Sunday said he would be "more than happy" to take on the captaincy challenge and step into Shreyas Iyer's shoes. In a bold and unexpected move, the Shah Rukh Khan-owned franchise chose not to retain their 2024 IPL-winning captain Shreyas Iyer at the mega auction here and went for an all out bidding war against Royal Challengers Bengaluru to secure Venkatesh. "I had the opportunity to captain the side in Nitish Rana's absence when he was unfortunately injured, and I was the vice-captain as well," said Venkatesh after he was bought by KKR for the huge amount. "I've always believed that captaincy is just a tag, but leadership is about creating an environment where everyone feels they can play for this team and contribute. If given the responsibility, I would be more than happy to take it on. Absolutely (I'm ready for it). "Together, we will aim to defend the championship