The Australia based bank Macquarie has squandered 2 billion pounds under the name of Thames Water. Thames Water borrowed the money back in 2007 and 2010 to help the bank to help maintain the banks water company that happens to be UK’s biggest private owned water company. That water company is Thames Water. The British regulator proclaimed that the activity was against the rules back in 2006. Macquire had set up companies to acquire the monet lent by its water company at the time of the loan.The issue has yet to be resolved and the British politicians have said nothing further on the matter.

Key Takeaways:

• Thames Water caused extensive pollution in the Thames River possibly due to financial reasons
• Macquarie transferred £2bn debt to Thames Water and then wanted them to be considered a separate company
• The final shares of Thames River were sold in March after years of environmental improvements

“The Australian bank Macquarie has left Thames Water with an extra £2bn debt burden, a BBC investigation shows.”

Read more: https://www.bbc.co.uk/news/business-41152516