Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Marubeni, INCJ Expand Water Utility Business to Portugal, Brazil

June 25 (Bloomberg) -- Marubeni Corp., a Japanese trading house that offers water services to more than 6 million people globally, said it agreed with a partner to buy a Portuguese utility that also owns Brazilian assets.

The trader and the Innovation Network Corp. of Japan, or INCJ, will each buy 50 percent of Administração e Gestão de Sistemas de Salubridade SA, one of Portugal’s largest water utilities, the Tokyo-based company said today in a statement. The seller is Somague Ambiente SGPS SA, a unit of Spanish construction firm Sacyr Valleheremoso, Marubeni said.

The companies did not disclose the financial terms of the deal. It may have cost about 10 billion yen ($98 million), NHK reported yesterday, citing an unidentified person.

Marubeni, whose businesses include coal mining and kimono sales, is adding assets in power and water services to offset a decline in the price of raw materials. The trader owns water treatment and sewage businesses in Chile, China, Australia, Peru and the Philippines.

To contact the reporter on this story: Yuriy Humber in Tokyo at yhumber@bloomberg.net

To contact the editors responsible for this story: Jason Rogers at jrogers73@bloomberg.net Pratish Narayanan

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.