Chinese wastewater acquisition raises eyebrows

A major electricity company has bought into the Chinese wastewater market through a $102 million acquisition. The circumstances of the deal are shrouded in controversy, reports Kathy Liu.

State-owned electricity generation company China Guodian Corporation (CGC) has been lured by the growth promised in China’s wastewater sector, announcing in January that it will acquire a 70% stake in state-owned Shenyang Zhenxing Environmental Protection Company (SZEP).

SZEP announced in November that it would be selling off a 70% stake held by Shenyang Water Group, and courted offers...

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