FCC Aqualia in Mitsui buyback for Czech Republic water business
- November 20, 2017
- Category: Europe
FCC Aqualia, FCC Group’s subsidiary for the water market, has agreed to buy back from a 49% stake held by Japanese firm Mitsui in FCC Aqualia’s water business in the Czech Republic.
In 2013, FCC Aqualia sold the 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 minority partner.
Mitsui’s exit has been triggered by a change in the Japanese Group’s strategy for water business in Europe. The transaction consists of the divestment of all of Mitsui`s share in SmVaK and Aqualia lnfraestructuras Inženýring.
Severomoravské vodovody a kanalizace Ostrava a. s. 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.
Europe’s third- largest water company and the seventh-largest in the world, FCC Aqualia currently provides services in 1,100 municipal districts in 22 countries.
In 2016, the company’s billings totalled €1.01 billion, with an order book approaching €15 billion.