SIIC to raise stake in Longjiang to 58%

Singapore

SIIC Environment Holdings is looking to acquire a further 32.6562 per cent stake in Longjiang Environmental Protection Group, for a total sum of 836 million yuan (S$172.5 million).

The sum, to be satisfied fully in cash, will be funded by internal cash resources and borrowings.

When complete, Longjiang will become a subsidiary of SIIC's; the wastewater treatment firm will own 57.9687 per cent of the equity interest…