Beijing Enterprises to buy EEW

  • Business
  • Friday, 05 Feb 2016

FRANKFURT: State-controlled Beijing Enterprises Holdings Ltd agreed to buy energy-from-waste company EEW for 1.44 billion euros (US$1.6bil) as China extends its acquisition spree.

Swedish buyout firm EQT Partners AB agreed to sell the company in the biggest Chinese direct investment in a German company to date, according to a statement yesterday.

The purchase builds on what’s shaping up to be a second-straight record year for Chinese mergers and acquisitions.

There’s been almost US$70bil of M&As and investments announced this year, including state-backed China National Chemical Corp’s US$43bil offer for Syngenta AG announced Wednesday, according to data compiled by Bloomberg. – Bloomberg

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