Chongqing Water Group (SHA:601158) subsidiary Chongqing Tap Water intends to acquire the third phase of the main city old pipeline network renovation project from Chongqing Water Environment Group.
The 65.3-million-yuan transaction, which includes related debts, is expected to enhance the company's water supply services and operational efficiency, according to a Tuesday filing with the Shanghai bourse.
The deal is subject to shareholder approval.
The water supply company's shares were down less than 1% Tuesday.
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