AquaMundo was founded in 2000 by ABB, Bilfinger Berger and MVV Energie, with each founder holding one third of the shares.
The acquisition gives AmiWater two thirds of the shares, while MVV Energie remains as a shareholder with one third. By mutual agreement of the contractual partners the purchase price has not been disclosed. Approval of the cartel authority is expected to be issued in the near future.
Aquamundo will continue to operate as an independent German company strongly focusing on the international market in which it develops,
finances and operates international water supply and wastewater disposal projects in South-East Europe, China and Latin America.
AmiWater also operates and manages water supply and wastewater infrastructural facilities and the company's presence as a shareholder on board constitutes a synergistic gain to the strategic goals of the management of AquaMundo's international market operations.
MVV Energie is active in consultancy and operational business in the international energy, water and wastewater sectors. Cooperation with the Amiantit Group opens up new and additional possibilities for joint ventures between the two companies.
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Saudi group Amiantit buys out German partners
- Saudi Arabia: Tuesday, June 03 - 2003 at 09:56
AmiWater, a subsidiary of Saudi Arabian Amiantit Group, has taken over the full participation of two German companies, ABB, Mannheim, and Bilfinger Berger, Wiesbaden, into AquaMundo.
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Wolfram BielensteinTuesday, June 03 - 2003 at 09:56 UAE local time (GMT+4)
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