Barcelona Water Privatization Deal Faces Legal Action on Appeal
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Acciona SA and Brazilian partner BTG Pactual said they are preparing legal action after the Catalan regional government accepted an appeal against a 1 billion-euro ($1.3 billion) contract to privatize Barcelona’s water supply.
The companies, which made a first payment of 299 million euros to regional authorities on Dec. 27, have officially managed Barcelona’s water since Jan. 1. They’re seeking a full refund should the water contract be annulled as Acciona in a regulatory filing said all conditions of the bid have been met.