SIIC to up stake in Longjiang Environmental Protection Group

SIIC Environment Holdings is looking to acquire a further 32.6562 per cent stake in Longjiang Environmental Protection Group for 836 million yuan (S$172 million).

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

When completed, Longjiang will become a subsidiary of SIIC; the wastewater treatment firm would own 57.9687 per cent of the equity interest in Longjiang.