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Seeking purity Vol 18, Issue 5 (May 2017)

  • Pentair has decided to spin off its electronics business to become a water pure-play. It is going to take some story-telling to draw a single growth theme from Pentair’s diverse portfolio of assets. These include swimming pool equipment, hydroponic irrigation systems, pumps, membranes, and point-of-use filtration systems. There are certainly some great assets in there, but it will...
  • RWL Water has signed a letter of intent as a precursor to becoming a publicly listed company in Australia through a proposed business combination with ASX-listed wastewater treatment specialist Emefcy. The deal, if consummated, would create a global pure-play company...
  • Meanwhile, Japan’s largest water pure-play Kurita Water Industries is also going global. The president has bold plans to increase net sales from $1.9 billion to $2.7 billion within four years. Growth will be fuelled by...

Water war Vol 18, Issue 5 (May 2017)

  • It looks like the mother of all legal battles is brewing over Mekorot’s Ashdod desalination plant in Israel. The project has left a huge crater in state-owned Mekorot’s finances as a result of a salvo of problems which hit the construction and commissioning of the plant. Sadyt, the Spanish desalination specialist which built the plant, is said to have...
  • IDE Technologies is said to have been approached to fix the problems at the plant, which is one of only two large-scale desal facilities in Israel in which is does not own a stake. IDE is in the middle of its own ownership issues – 50% owner Israel Chemicals is said to be shopping its stake to prospective investors...

Brazilasia Vol 18, Issue 5 (May 2017)

  • Sumitomo has joined Brookfield Business Partners in mopping up the majority of Odebrecht Ambiental’s Brazilian water assets. After parting with $250 million, the Japanese trading house emerged with a 14% stake in...
  • GS Inima is looking for an investment partner to help it grow its Brazilian concessions business. Ideally it wants to retain control of GS Inima Brasil while using third-party capital to...
  • Also up for grabs is the somewhat rag-tag bunch of Latin American water interests assembled over the past 15 years by Madrid’s regional operator Canal Isabel II. The growing corruption scandal which has hit the company has resulted in a commitment to...
  • Although Brazil is the second-largest market for greenfield private water investment after China, it looks like the government may be over-ambitious about the speed at which it can deliver reform...

Bankability Vol 18, Issue 5 (May 2017)

  • The newest multilateral development bank on the scene, the Asian Infrastructure Investment Bank (AIIB), has chosen water as one of its three core sectors. Its first commitment with a water sector component is a $...
  • Conversely, the Asian Development Bank continues to find exciting Chinese water PPP trends to back. This month, it mobilised $250 million for...

Future democracy Vol 18, Issue 5 (May 2017)

  • Dubai-based Future Pipe Industries has defended itself against accusations that it “controlled the vote” to defeat an amendment to the International Desalination Association’s constitution. The measure would have ensured that no company could have more than two employees on the board of the association. When the amendment was voted down 833 votes to 231, an anonymous e-mail was... 

Development banks in water Vol 18, Issue 5 (May 2017)

Which multilateral international financial institutions have lent the most money to the water sector over the past decade?

Bootstrapping it with the best of the best Vol 18, Issue 5 (May 2017)

Christopher Gasson explains the thinking behind the Leading Utilities of the World initiative launched last month.

Spin while you’re winning Vol 18, Issue 5 (May 2017)

Pentair’s decision to recast itself as a water pure-play by spinning off its electrical business is symptomatic of a wider trend for firms to seek higher valuations through specialisation.

Asia Pacific water in brief Vol 18, Issue 5 (May 2017)

Credit rating agency Moody’s has assigned a Aa2 rating to the new $350 million bond issued by Korean utility K-water, which is documented under a new $2 billion EMTN programme.

The difference between a clock and a wristwatch Vol 18, Issue 5 (May 2017)

In mobile desalination, not all containerised solutions are created equal. Tom Pankratz outlines the advantages and pitfalls that need to be considered.