Baring-backed Kangda acquires sewage treatment plants
Kangda International Environmental, a Chinese water treatment facility operator backed by Baring Private Equity Asia, has acquired a 90% stake in four sewage treatment plants for RMB270 million ($47 million).
According to a regulatory filing, the plants - all of which are located in Shandong province -were previously owned by four Chinese companies: Yanggu Company, Xin County Company, Liaocheng Company and Jiaxiang Company.
The plants have a daily treatment capacity of 210,000 tonnes-per-day (tpd), including 90,000 tpd in operation and 50,000 tpd under construction. Upon completion of the transaction, the existing shareholders will be left with a joint 10% stake in the plants.
Baring acquired a 30% stake in Kangda International in 2012 for $95million, according to AVCJ Research.
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