King of bidders wins the battle for Tianjin
- From: Vol 8, Issue 10 (October 2007)
- Category: General
- Region: Asia
- Country: China
- Related Companies: Sino-French Water Development, Tianjin Water Supply Co and Veolia
Veolia’s high stakes bidding strategy has scored another victory in China. CEO Antoine Frérot was in a bullish mood at the signing. Has he made Veolia a hostage to fortune by promising not to eat his words?
Veolia has again raised the stakes to win the lucrative Tianjin City contract in China, outbidding its competitors with a record RMB2.18 billion offer for a 49% stake in the Tianjin Shibei Water Company. The price, which represents a premium of 211% to the market value of the asset, reflects Veolia’s optimism in the future of Tianjin as ...
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