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CYII corruption probe threatens Spanish government

Investigations into alleged fraud, bribery, organised crime and other offences involving Madrid’s regional water company Canal Isabel II (CYII) have gone international, and may even threaten the Spanish government’s survival.

Those under investigation by Spanish magistrate Eloy Velasco include Ignacio González, ex-president of the Madrid region and of...

IDE sale rumours swirl as ICL confirms negotiations

This week’s confirmation by Israel Chemicals (ICL) that it is in negotiations to sell its 50% stake in desalination company IDE Technologies were not accompanied by a similar statement by co-owner Delek Group.

Nevertheless, a well-placed Israeli financial source told GWI that Delek is still interested in selling its 50% stake, but is under less pressure to do so...

EBRD to boost Belarus’ water framework to €100m

The European Bank for Reconstruction and Development is looking to build on the success of its €40 million water sector framework in Belarus’ by increasing the programme to a total of €100 million.

Having committed to funding its first trio of projects last October in the cities of Polotsk, Orsha and Lida, the bank has a further five projects in the...

HaloSource slumps further on dilutive share issue

Shares in troubled water treatment company HaloSource slumped further after the company announced a dilutive share issue, and revealed that the chairman and the CEO had both resigned.

Acting CEO James Thompson was simultaneously confirmed as the new permanent chief executive, while non-exec Alan Matthews becomes the new board chairman. Former CEO Martin Coles will...

IPOs diversify water stock universe in Thailand

Following the successful IPO of industrial water and energy concessionaire WHA UP on the Thai stock exchange last week, which valued the company at THB20 billion ($583 million), eyes are now turning to the long-delayed spin-off of East Water subsidiary Universal Utilities.

WHA UP, which inherited the water and wastewater concessions of industrial park developer Hemaraj,...

Copasa shares dive on preliminary tariff review

Shares in Brazilian water concessionaire Copasa traded down 22% this morning after ARSAE, the regulator in its home state of Minas Gerais, disappointed the market when it announced the preliminary results of its tariff review.

The main gripe seems to have been ARSAE’s assessment of the regulated asset base on which the company will be allowed to earn a return,...