Macquarie digs deeper for redemption at Southern Water. There was no alternative | Nils Pratley

Infamous former owner of Thames Water coughs up more capital in bid to turn around badly performing utilitySouthern Water owners to invest up to £1.2bn in troubled utilityMany took the view in 2021 that Macquarie should have been run out of town, rather than be allowed to own another English water company.The giant Australian financial outfit’s former outing, remember, was at Thames Water from 2006 to 2017, which was when the absurd games of financial leverage began at the UK’s biggest water company. The then-chair of Ofwat later told MPs he asked himself the question “What do we do here, with that reputation?” when Macquarie made the best financial offer to rescue Southern Water. Continue reading...

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