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Taizhou Water Concludes Purchase of Stakes in Smaller Rivals for $27 Million

MT Newswires ·  {{timeTz}}

06:47 AM EDT, 10/01/2021 (MT Newswires) -- Taizhou Water Group (HKG:1542) completed its acquisition of stakes in three smaller rivals, according to a late Thursday bourse filing.

The water supplier purchased a 45% stake in each of Taizhou Water Supply, Taizhou Jiaobei Water Supply and Taizhou Luqiao Water Supply for 23.22 million yuan, 23.38 million yuan and 124.42 million yuan, respectively.

The deals, totaling 171.02 million yuan ($26.5 million), will allow the group to start the integration of urban and rural water suppliers in Taizhou, a city in China's Jiangsu province.

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