28 Aug 2015
Everbright Water Acquires 100% Equity Interests of Dongda Water
Singapore, 28 August 2015 – China Everbright Water Limited ("Everbright Water" or "the Company", SGX: U9E) (中国光大水务有限公司), an environmental protection company focuses on investment, operation and management of integrated environmental water business, entered into an equity transfer agreement with Dongda Group Co., Ltd. ("Dongda Group") and an individual to acquire in tranches the entire equity interest in Dalian Dongda Water Co., Ltd. ("Dongda Water").
To Strengthen the Company's Position in the Forefront of Environmental Water Industry in the PRC
Dongda Water is the flagship enterprise in the waste water treatment sector in Liaoning province, mainly focusing on the integrated treatment of the urban water environment and the urban waste water treatment business. It invests, constructs and operates urban waste water treatment projects, mainly on a BOT (Build-operate-transfer) or a TOT (Transfer-operate-transfer) basis. Dongda Water has 17 urban waste water treatment plants in Liaoning province and Inna Mongolia Autonomous Region, with a total contract volume of 1,125,000 m3/day.
The acquisition will further boost Everbright Water's waste water treatment capacity, elevate its market position and expand its geographic markets in the PRC. Following the completion of the acquisition, Everbright Water's waste water treatment business will have a contract volume exceeding 4,600,000 m3/day, covering cities and provinces including Beijing, Jiangsu, Shandong, Shaanxi, Henan, Liaoning and Inna Mongolia.
Mr Wang Tianyi, Chairman of Everbright Water, said, "Given that Dongda Water is the flagship enterprise for the waste water treatment sector in Liaoning province, the acquisition will help the Company to expand its position in the Northeast China market. Liaoning province has continued to encourage support for environmental protection with the aim of further improving the waste water treatment sector and pushing forward environmental restoration. It has adopted a series of measures, including an increase in waste water treatment fees and encouraging public-private partnership (PPP) projects that focus on environmental protection and energy saving, such as the construction of waste water treatment and waste-to-energy projects. The acquisition of Dongda Water is in line with Everbright Water's strategy of actively expanding its waste water treatment business and will further expand its regional business layout, in order to strengthen the Company's position at the forefront of the industry."