Castle Water to Offer £4 Billion Equity to Save Thames Water (2)

Castle Water Ltd. will offer to inject £4 billion ($5.1 billion) into Thames Water this week to help save the beleaguered utility from administration, according to a person familiar with the matter.

Thames, the UK’s biggest water and sewage company, asked potential investors to submit indicative, non-binding bids by Dec. 5.

The utility is desperately seeking a multi-billion pound investment to avoid potential temporary nationalization. An equity stake of the size Castle plans to offer would go a long way toward that effort, though the company alone doesn’t have the money for the investment.

Thames Water’s bonds were unchanged on ...