Britain's Thames Water said the court-approved debt lifeline of 3 billion pounds would come into effect on Friday, warding off a collapse of the country's biggest water supplier. The company will proceed with the initial implementation steps of the liquidity extension plan.

Global investment firm KKR (KKR) is reportedly looking to pump £4 billion ($5 billion) into Thames Water, the UK’s biggest water supplier,

Private equity fund KKR is offering £4 billion to take control of struggling utility Thames Water in the UK, according to a person familiar with the matter.

Britain's Thames Water secured court approval for a 3 billion pound ($3.8 billion) debt lifeline on Tuesday, warding off the collapse and state rescue of the country's biggest water supplier.

Thames Water has won a crucial High Court battle to secure a £3bn rescue loan, staving off the prospect of the debt-laden company coming under government control. The UK's largest water and waste company was set to run out of cash by the end of March and would have likely been placed into temporary nationalisation to keep services running.

A major Hong Kong investor has lodged a £7bn bid to take a majority stake in Thames Water. CK Infrastructure, part of Li Ka-Shing's CK Hutchison conglomerate, submitted the offer earlier this month, according to the Financial Times. The US private equity group KKR has made a separate £4billion bid for a majority stake, it emerged this week.