China Water Affairs raises its stake in Jianghe Long Chuan to 50%

8/9/2009 18:11:45 PRChina Limited

(September 8, 2009 - Hong Kong) China Water Affairs Group Limited (“China Water Affairs” or the “Company, together with its subsidiaries collectively referred to as the “Group”)( stock code: 00855.HK), one of the largest integrated water services operators in China, announced that the Group had entered into an agreement with an independent third party to acquire the entire equity interest in Bright Orient Group Limited (“Bright Orient”) for a cash consideration of RMB 38,350,000. Bright Orient owns 100% equity interest in Chongqing Global Water and Electricity Development Company Limited (“Chongqing Global”), which in turn owns 5% in Jianghe Long Chuan Electricity Development Company Limited (“Jianghe Long Chuan”). As the Group currently has 45% equity interest in Jianghe Long Chuan, upon completion of the transaction, the Group will indirectly raise its equity interest in Jianghe Long Chuan to 50%. The Group’s investment in Jianghe Long Chuan enables it to expand environmentally friendly power generation and water resources exploitation and development business.
 
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About China Water Affairs Group Limited
China Water Affairs Group Limited is one of the largest integrated water services operators in China. Its shares are traded on the Main Board of The Stock Exchange of Hong Kong Limited. The Company invests, builds and operates water projects in China, providing raw water, tap water, hydroelectric power, sewage treatment and related value-added services.
 
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