Date
16 January 2017
Chinese firms are keen to acquire technologies related to conversion of waste into energy. Photo: Bloomberg
Chinese firms are keen to acquire technologies related to conversion of waste into energy. Photo: Bloomberg

Beijing Enterprises acquires German waste-to-energy firm

Beijing Enterprises Holdings has agreed to buy EEW Energy from Waste GmbH in a deal that could mark the largest direct Chinese investment in a German firm, the Wall Street Journal reported.

The asset is being acquired from Swedish private-equity fund EQT for an equity price of 1.44 billion euro (US$1.59 billion), it said.

Including debt and liabilities, the overall price would be slightly above 1.8 billion euro, a record for a Chinese investment in a German company, according to the report.

The transaction is expected to close by the end of the month.

EEW operates plants that burn waste materials to create steam for heating and electricity production. 

Most of its plants are in Germany, with some facilities also located in the Netherlands and Luxembourg.

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RC

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