(September 24, 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 its non-wholly owned subsidiary will acquire 25.62% equity interest in Huizhou Daya Bay Yiyuan Purified Water Company, Limited (“Daya Bay Yiyuan”) from Huizhou Investment Management Company for a cash consideration of RMB65.65 million. Upon completion of the transaction, China Water Affairs will directly and indirectly hold around 70% equity interest in Daya Bay Yiyuan.
The board of directors of the Company believes that demand for water for both industrial and domestic use in Huizhou City is strong. This acquisition will enable the Group to capture further financial benefits derived from the operation of Daya Bay Yiyuan, which is principally engaged in water supply and water supply infrastructure in Huizhou, Guangdong Province, the PRC.
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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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