Thames Water Managers to get bonuses to get a lift of £ 3 billion

Unlock the editor’s digestion free

FT editor Roula Khalaf, chooses his favorite stories in this weekly newsletter.

Thames will receive plenty of “catchment promotion” as part of a $ 3 billion emergency loan agreed with the higher leaders of the water, which wants to refuse renasity.

Some heads are built as “50 percent of salaries; very basic bonuses” Credit agreed with creditors The US Hedgehogian capital, the capital of Elliott, the capital of the Kraya Water Department Sir Adrian Montague told parliament on Tuesday.

Montague claimed Juice The best employees of the opposing companies had to pay bonuses to prevent “take.”

“We have a bonus scheme to protect our most valuable resource with a large management group,” Montague, the cross-party environmental committee.

Deputies were not said that bonuses will be paid in three tranches in addition to its annual salaries and other awards.

Montague, a veteran city of London, acknowledged that this is an unusual agreement: “When this is the first time, this has made several restructuring in my time,” Montague said. “It is necessary to stay in the team.”

Chris Weston, the executive director of an old British gas, was appointed to the post of Thames Water Executive Director in December 2023 Criticized for obtaining £ 195,000 Here are for the first three months. It is in a total salary package up to £ 2.3 mn during the year.

The qualifying committee session, England’s largest water program, England’s largest water program, trying to refuse to renounce the government under the government’s special management scheme. The company serving a quarter of the country’s population is fighting the weight of £ 20 billion debt and is in exclusive discussions with a private capital company KKr to take the job.

£ 3 billion credit – which Protested in court By opponent bonds – 9.75 percent interest rate is coming with fees. However, Montague claimed that the company should agree to the transaction because Thames water “Hair growth” financial crisis “, for the last year, since the UK’s largest Water Aid Program does not remain only five weeks.

“Temzes approached very close in the last year escape money Absolutely. There were five weeks of liquidity in the past year: Five weeks ’20 billion pounds in the’ Liquidity 20 billion Corporation – honestly, “MPs said on Tuesday.

Montague defended the contract to give the exclusive law of the Thames, which is another five other offers to the Thames juice. The KKR was far from the best, technically, financially, financially, the obligation to provide capital, and they were ahead, “he said.

Added that 4 billion KC transfers were confirmed: “It may have to wait for a large company as a large company like this, it may have to wait for a large company that the remaining new capital owners are to take a step.”