Beijing Enterprises Water to Buy Sewage Assets for $44 MillionBloomberg News
Beijing Enterprises Water Group Ltd., a developer of water-treatment systems, said unit BEWG Environmental Group Co. agreed to buy a 60 percent stake in a sewage-plant owner for 270 million yuan ($44 million).
Target BCEG Environment Development Co. has 26 sewage treatment plants with a total design capacity of 937,500 tons per day, Beijing Enterprises said today in a statement to the Hong Kong stock exchange.
The move will “promote the group’s investment and development in the Yangtze River Delta economic region” and “strengthen the group’s regional influence in Beijing City,” according to the statement.
— With assistance by Feifei Shen