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FCC Aqualia buys back Mitsui’s 49% stake in FCC’s water business in Czech Republic

20/11/2017

FCC Aqualia buys back Mitsui’s 49% stake in FCC’s water business in Czech Republic

FCC Aqualia buys back Mitsui’s 49% stake in FCC’s water business in Czech Republic

FCC Aqualia, FCC Group’s subsidiary for the water market, has agreed to buy back from Mitsui its 49% stake in FCC Aqualia’s water business in the Czech Republic. In 2013, FCC Aqualia sold the abovementioned stake to Mitsui, following the cash generation strategy of FCC Group for 2013. After the deal, FCC Aqualia has continued running the day-to-day operations of the Czech business, with Mitsui as a relevant minority partner. Mitsui’s exit is triggered by a change in the Japanese Group’s strategy for water business in Europe and the transaction consists of the divestment of all of Mitsui`s share in SmVaK and Aqualia lnfraestructuras Inženýring. As the acquisition is of a minority stake, such acquisition has no significant impact in the earnings of FCC Aqualia.

Severomoravské vodovody a kanalizace Ostrava a. s. (“SmVaK”) is the largest water supply company in the Moravian-Silesian region and one of the leaders in the water market in the Czech Republic, as part of FCC Aqualia group. Its core business is production and supply of drinking water as well as discharge and treatment of wastewater.

FCC Aqualia S.A is the water management subsidiary of FCC Group, one of the largest Infrastructure and Environmental Services Groups in Europe. FCC Aqualia is Europe’s third- largest water company and the seventh-largest in the world, according to the latest ranking by the specialist journal Global Water Intelligence (GWI), serving 22.5 million users, and meets the needs of all parties, private and public, at all stages of the water cycle, providing water for human, industrial, and agricultural uses. Its main activity is the management of municipal water services.

The company currently provides services in 1,100 municipal districts in 22 countries: Spain, Italy, Portugal, Czech Republic, Poland, Romania, Montenegro, Bosnia, Mexico, Chile, Uruguay, Algeria, Egypt, UAE, Saudi Arabia, Serbia, Tunisia, Qatar, Colombia, Ecuador, Panamá and Oman.
In 2016, the company’s billings totalled €1.01 billion, with an order book approaching €15 billion.