Beijing Enterprises to Acquire Stake in Guiyang Water

Beijing Enterprises Water Group plans to acquire a 45% stake in Guiyang Water for CNY721m ($108m).

The Hong Kong-based company will invest CNY1.95bn ($292m) in the acquisition.

Following the acquisition Guiyang City, China, will grant the company exclusive franchise rights to collect water service fees for a period of 30 years from residents in designated districts.

The Chinese wastewater company said the acquisition will improve its financial performance as well as expand its business scale, according to capitalvue.com.