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Interchina to raise $175 million in water sell-off

Shanghai-listed project developer Heilongjiang Interchina is selling three water utility concessions and five wastewater BOTs to a private equity firm for RMB1.09 billion ($167.5 million). Four of the eight contracts are loss-making and the portfolio recorded net profit of RMB23.13 million ($3.55 million) in 2016.

Interchina is also selling its 31% stake in...

Business Stream suffers as retail competition mounts

The licensing of Aquaflow Utilities as the 25th company eligible to participate in the non-household retail water market in England will put further pressure on an already beleaguered Business Stream, Scottish Water’s retail subsidiary.

Newly published accounts show that in the year ended 31 March 2017, Business Stream’s revenues plummeted by 35% to...

BGEO shares rise on Georgian regulatory settlement

Shares in London-listed BGEO Group plc nudged upwards following the announcement earlier this week that its utility subsidiary GGU (Georgia Global Utility) had negotiated a weighted average cost of capital of 15.99% from the Georgian National Energy and Water Supply Regulatory Commission.

The regulatory settlement, which affects both water and sanitation services, was...

Oman desalination IPO set for first-day price jump

Brokers in Oman have predicted another jackpot for investors in the latest desalination plant to be listed on the country’s stock exchange.

A 35% stake in Muscat City Desalination Company – the owner of the 190,932m3/d Ghubrah desalination plant – is set to be listed in Muscat on 2nd January. The listing follows a month-long sale process that closed on...

Moody’s turns negative on UK water after Ofwat news

Ofwat’s confirmation earlier this month that it aims to impose a much tougher five-year pricing regime on the UK water industry from 2020 onwards has led Moody’s to take a “negative” credit view on four of the ten large water and sewerage companies.

In two cases – Severn Trent and Yorkshire – the rating agency lowered a previously...

Water Resources Group shares triple on equity raise

ASX-listed water treatment company Water Resources Group (WRG) saw its share price virtually triple earlier this week after placing 3.1 million shares onto the market in the immediate wake of a 1-for-200 share consolidation exercise.

The shares have since come off their highs to settle at A$0.61 today, valuing the company’s equity at A$16.2 million (US$12.4...