According to a report in The Financial Times, Canadian-headquartered Ontario Municipal Employees’ Retirement System (Omers), which owns a third of Thames Water, has significantly reduced the value of its investment in the last year.
According to a report in The Financial Times yesterday, Canadian-headquartered Ontario Municipal Employees’ Retirement System (Omers), which owns a third of Thames Water, has significantly reduced the value of its investment in the last year.
One of multiple funds owned by Omers which invest in the water company,the Omers Farmoor Singapore PTE reduced the value of its 20% holding in Thames Water’s parent Kemble company from £979 million to £700 million.
If a similar write-down was replicated across the rest of Thames Water’s investors this could total around £1.4 billion.
On 10th July Thames Water announced that shareholders, including Omers, had agreed to provide Thames Water a further £750 million of equity funding in the remainder of the 2020-25 AMP7 investment period, subject to the satisfaction of certain conditions.
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