SIIC to Acquire China’s Fudan
Published on by Water Network Research, Official research team of The Water Network in Business
Water-Treatment Specialist SIIC to Acquire China's Fudan
SIIC Environment Holdings Ltd., a Shanghai government-backed water-treatment company, is acquiring a majority stake in China's Fudan Water Engineering & Technology Co. for 1.07 billion yuan ($172 million).
SIIC as part of the deal to buy Global Envirotech Investment Ltd., a holding company that owns 92 percent of Fudan Water, also agreed to pay off 479.2 million yuan in debt, Singapore-based SIIC said Tuesday in a stock exchange filing. Fudan operates about 10 water-treatment projects in China including in Shanghai, Jiangsu and Guangdong.
Source: Bloomberg
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