Published:
United Envirotech acquires waste-water project in China
This after exercising a call option to acquire the entire equity interest of Tongji Environmental Pte Ltd for RMB34.03m.
According to OCBC’s report, Tongji is the holding company of Aton Environmental Co, where the latter has a 30-year BOT concession agreement with the municipal government to treat 50k m3 of wastewater daily.
Here’s more from OCBC:
| Tongji is the holding company of Aton Environmental Co, where the latter has a 30-year BOT (Build-Operate-Transfer) concession agreement with the municipal government to treat 50k m3 of wastewater daily. According to UEL, the move is part of its business strategy to increase recurring income streams through the investment in water treatment projects. UEL intends to fund the investment using internal resources - recall that UEL has just issued US$113.8m worth of convertible bonds to KKR. While we are generally positive on the latest development, we need to speak with management to get more details before we adjust our estimates. |
Read Here
Advertise
Sign Up
