China Everbright Water acquires Jiangsu environmental institute for $17 mil

SINGAPORE (June 13): China Everbright Water has acquired a 100% stake in Xuzhou Municipal Design Institute for RMB82 million ($17.1 million) in cash.

Established in 2004, the institute is engaged in the survey, mapping, design and consultation of projects relating to roads, bridges, tunnels, water supply, drainage, heat, gas, electricity, construction, landscape, sanitation, highways and water conservancy, as well as the consultation of project costs, project management.

On Wednesday, China Everbright signed an agreement with the institute and its shareholders to acquire a 100% stake for a cash consideration of RMB82 million ($17.1 million).

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