Chongqing Water Group Acquires Wastewater Treatment Plant Assets for $46.6 Million

Stock News08-05

Chongqing Water Group Co.,Ltd. (601158.SH) announced a strategic move to enhance its market share in wastewater treatment services. The company's subsidiary, Chongqing Yuxi Water Co., Ltd., has agreed to acquire the assets of the Phase II expansion project of the Tongnan Southern District Wastewater Treatment Plant, along with related creditor's rights and debts, for a total consideration of 46.6399 million yuan.

The acquisition targets are owned by Chongqing Water Environment Holding Group Co., Ltd. The transaction will be funded through self-raised capital, with payments scheduled in installments according to the agreement. This acquisition aligns with the company's core business operations and supports its development strategy and investment direction, reinforcing its market position in Chongqing.

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