(3 March, 2016, Hong Kong) - Beijing Enterprises Holdings Limited ("BEHL" or the "Company", stock code: 392) is pleased to announce that, the acquisition of the 100% equity interest in EEW Energy from Waste GmbH ("EEW"), an energy-from-waste company in Germany, has duly completed in Munich, Germany at an acquisition consideration of EUR 1.438 billion.
Mr. JIANG Xinhao, Executive Director and Vice President of BEHL stated, "The acquisition value is around EUR 1.8 billion, representing an average trading size in Europe in recent years. As a representative integrated public utilities provider in China, BEHL has accumulated distinguished reputation in capital operation and overseas financing after years of endeavor. Although our bidding in the last round is not the highest, our extensive experience and strong and solid strengths in the business scale, operation and management of solid waste treatment sector eventually benefited us to succeed the final bidding despite intense competition."
Germany is a motivated advocator and major leader of waste hazard-free, reduction and recycling, representing the world's most advanced waste management standard. As the only enterprise focuses on energy-from-waste (EfW) in Europe, EEW owns 18 EfW plants in Germany and neighboring countries, providing power, district heat supply and industrial steam services. Its total waste throughput in 2015 had reached 4.4 million tonnes and holds a leading position in the EfW sector in Germany with approximately 18% market share.
The acquisition of EEW is the largest merger and acquisition project in Germany by a Chinese enterprise. It is also a major move by BEHL to complement actively in putting forward the green development vision, striving to develop environmental protection industry and expanding overseas markets pro-actively. At the same time, the acquisition is also in line with the development strategy of "One Belt One Road" advocated by the government, thus will further exalt BEHL's business capacity and industry standing in the solid waste treatment sector in China. Since signing the preliminary agreement on 3 February, the acquisition received prompt approval from the German Government, reflecting its outright support in this Sino-German cooperation.
Mr. Zhou Si, Vice Chairman and CEO of BEHL stated, "We will leverage on EEW's rich experience in the development and construction management of EfW plants that have accumulated through years. At the same time, through learning and bringing in the advanced solid waste treatment and environmental protection idea, technology and management experience from Europe, we will strive to enhance our overall domestic standard in solid waste and environmental protection industry, thereby contributing to the green and sustainable development in China".
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