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Citic Envirotech acquires additional 15% stake in United Envirotech Water (Changyi)
CITIC Envirotech (CEL) will acquire an additional 15 per cent stake in its subsidiary, United Envirotech Water (Changyi) Co, from an existing minority shareholder for 32.5 million yuan (S$6.6 million).
CEL will have full ownership of Changyi Co post-acquisition.
Changyi Co runs five industrial wastewater treatment plants in Changyi City, Shandong province, with a total design capacity of 200,000 cu m per day.