China Water Industry Group Limited has announced that it has entered into an agreement with an independent party about the acquisition of 100% of the issued share capital in Affluent Boom Enterprises Limited.<\/p>\n
The total consideration of the acquisition is HKD700 million, of which CNY30 million will be paid in two phases within 21 days from the date of the Agreement as a deposit; HKD585 million will be paid by issuing convertible bonds which will mature in 2012; and the remaining CNY80.56 million will be by way of allotment and issue of shares at the issue price.<\/p>\n
Affluent has unconditionally warranted and guaranteed that the consolidated net profit after tax China Water Industry would obtain from the acquisition during the first three years after the acquisition would not be less than CNY40 million, CNY80 million, and CNY120 million respectively.<\/p>\n
Affluent is an investment holdings company, and its subsidiaries are involved in sewage treatment and water supply businesses in China. The water service group held by Affluent is currently operating seven sewage treatment plants in Huizhou City; Sihui City; Huidong County; Boluo County, Guangdong Province; and Baoji City in Shaanxi Province; plus a water supply plant in Tangshan City, Hebei Province, which is partially under construction and will put into operation by next year. The aggregate sewage water treatment capacity has reached 480,000 tons per day, and the aggregate water supply capacity is 180,000 tons per day.<\/p>\n
China Water Industry Group Limited plans to become a leader in China's water investment, operation and management industry. The group sees a promising future in China's sewage treatment business, and hopes the acquisition would strengthen its profitability and bring better return to shareholders.<\/p>\n","protected":false},"excerpt":{"rendered":"
China Water Industry Group Limited has announced that it has entered into an agreement with an independent party about the acquisition of 100% of the issued share capital in Affluent Boom Enterprises Limited.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[11],"tags":[890,2162,1093,2166,2159,491,91,2165,2163,2161,1125,154,2164,1127,2160],"class_list":["post-2919","post","type-post","status-publish","format-standard","hentry","category-environment","tag-acquisition","tag-affluent-boom-enterprises","tag-baoji","tag-boluo-county","tag-china-water-industry","tag-guangdong","tag-hebei","tag-huidong-county","tag-huizhou-city","tag-ma","tag-sewage","tag-shaanxi","tag-sihui-city","tag-tangshan","tag-water-treatment"],"acf":[],"yoast_head":"\n