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Chongqing Water Group Subsidiary Plans to Acquire Water Supply Network Project
Chongqing Water Group (601158.SH): intends to acquire the water supply pipeline project for 65.2552 million yuan.
On February 17, Glonghui reported that Chongqing Water Group (601158.SH) announced plans to avoid competition with major Shareholders in the same industry, enhance the safety and efficiency of the company's water supply service Business, and consolidate the company's market advantage in Chongqing. The company intends to acquire the Assets for the main urban old pipeline renovation phase three project constructed by Chongqing Water Group Environment Group, along with related debts and claims (hereinafter referred to as symbol), from its wholly-owned subsidiary, Chongqing Water Supply Co., Ltd., for 65.2552 million yuan. This acquisition will be funded through self-raised funds and will be paid in installments according to the agreement. This acquisition falls within the company's main Business and aligns with the company's development Global Strategy.
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