China Everbright Water divests stake in Qingdao Everbright Water Operating

CHINA Everbright Water has sold a 50 per cent stake in Qingdao Everbright Water Operating to Qingdao Water Group Co for 1.1886 million yuan (S$247,000).

Qingdao Everbright Water Operating provides operating services to the Maidao Waste Water Treatment Plant and Haibohe Waste Water Treatment Plant in Qingdao.

China Everbright's stake in Qingdao Everbright Water Operating has fallen from 99 per cent to 49 per cent and as such, it ceases to be a subsidiary.

Based on an appraisal by Shandong Qinzi Asset Appraisal Co, the value of the stake as at 31 Dec 2015 was 1.1886 million yuan.