Strabag planning to acquire German-based water management firm for 鈧�100m
18 December 2024
Austria-based its intent to acquire German-based water management company WTE Wassertechnik from Austria-based EVN Group, an electricity producer and transporter serving 14 countries, with a term sheet already signed between the two parties.
A WTE Wassertechnik-built water facility in North Macedonia. (Image: WTE Wassertechnik)
The transaction is said to be in the amount of 鈧�100 million (US$105 million) for all shares of WTE Wassertechnik.
Strabag said the purchase will include the water management company鈥檚 European and Middle East business, although WTE Wassertechnik鈥檚 projects in Budva (Montenegro), Zagreb (Croatia), and Prague (Czech Republic) are not included in the sale.
鈥淓VN will continue to finance a significant portion of WTE鈥檚 construction and development projects in Kuwait and Bahrain, even after the closing of the transaction, and will bear most of the construction risk of these projects,鈥� added Strabag.
The deal is expected to officially close in February 2025 at the latest, Strabag said.
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