Merubeni, INCJ to Acquire Aquas Nuevas

A joint venture between Marubeni and Innovation Networks Corporation of Japan (INCJ) is planning to acquire Chilean water company Aguas Nuevas for $498m.

Aguas Nuevas is one of Chile’s major water companies and serves in regions I, XV, IX and XII.

Japanese trading company Marubeni plans to use the Aguas Nuevas acquisition as a platform to build up further assets in the water industry, according to bnamericas.com.

The Japanese firm has already acquired stakes in region X utility Aguas Decima, which it acquired in October 2006.