Clean Water Makes Offer for Sinomem Technology

Clean Water Investment has launched a voluntary conditional cash offer to acquire Sinomem Technology, a Singapore-listed water treatment group, for S$351m ($276m).

Clean Water offered S$0.70 ($0.55) in cash for each Sinomem share, excluding shares held by Sinomem as treasury shares and shares held by Clean Water.

Sinomem is an integrated membrane technology company covering membrane material manufacturing, membrane process and engineering, and downstream nutraceuticals production.

Clean Water Investment is a special-purpose vehicle controlled by CDH Water, which is indirectly controlled by CDH China Management Company.

DBS Bank will act as the financial adviser to Clean Water Investment for the deal.