A water company co-founded by the treasurer of the Conservative party is in discussions to take a stake in Thames Water, which is looking to raise billions of pounds to avoid a potential renationalisation.
Castle Water — which acquired Thames Water’s corporate customers from the utility in 2017 — is looking at contributing new equity to bolster the balance sheet of the UK’s largest water utility, according to four people familiar with the matter. Castle Water is looking to take a controlling stake, one of the people has said.
Graham Edwards, who has donated millions of pounds to the Conservative party and serves as its treasurer, is one of Castle Water’s co-founders, directors and shareholders.
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