Latest News for Week 19 (2016)

Badger Meter set to continue water M&A theme

Big-ticket M&A activity in the water metering sector looks set to continue after Badger Meter declared yesterday that it was “exploring on a preliminary basis various options to enhance shareholder value.”

The company’s statement followed reports that it had put itself up for sale, and the combined effect resulted in the shares closing out...

Veolia shares lose momentum on weak Q1 revenues

Veolia shares fell 4% yesterday on the back of a set of first-quarter results that revealed a 1.7% decline in revenues to €6,089 million, chiefly driven by lower energy prices and reduced construction activity in the water technologies division.

Although EBITDA rose by 5% to €840 million at constant scope and exchange rates, the bulk of the gain (€53...

Isolux set to follow Abengoa into creditors’ hands

The board of Isolux Corsan, Spain’s seventh largest construction firm, has agreed to creditor banks taking control in return for an immediate €200 million cash injection while a restructuring plan is put in place to save the indebted company from liquidation.

Its last published results in November 2015 show  the company owed €1.6 billion in bank...

NWC chief exec replaced as Saudi tariff fury grows

Loay Al-Musallam, the CEO of Saudi Arabia’s National Water Company (NWC), has become the second major casualty of the public uproar over a botched readjustment of the country’s domestic water pricing scheme.

On 1st May, Al-Musallam was replaced by Saline Water Conversion Corporation governor Abdulrahman Al-Ibrahim, following a meeting between senior members...