china everbright limited’s shandong hi-speed eb industrial investment fund completes strategic investment in citic envirotech ltd.
the shandong hi-speed eb industrial investment fund (the "fund"), established by china everbright limited (“cel”; stock code:165.hk) and shandong hi-speed group co., ltd (“sdhs”), announced that the fund has completed the strategic investment of singapore listed company “citic envirotech ltd” (“ce”; stock code:cee),through the way of overseas direct investment (odi).
mr. yin lianchen, executive director and chief investment officer of cel, talked about this investment: “we are very pleased to be a partner of ce. our team has its focus on directed at the environmental protection industry and sewage treatment industry. ce is a fast growing company and we are confident to the future development of the company.”
the fund, through its special purpose company established in the cayman islands, entered into the subscription agreement with ce on december 28th, 2017. in early 2018, the fund successively obtained the approvals from the beijing municipal commission of development and reform, the ministry of commerce of the people’s republic of china, and the state administration of foreign exchange. at the end of march 2018, the delivery of funds and stocks was officially completed.
about citic envirotech ltd.
citic envirotech ltd, formerly known as united envirotech ltd, is a leading membrane-based integrated environmental solutions provider which specialises in the manufacturing of high quality membrane products and the application of membrane technologies for water and wastewater treatment and recycling. its principal activities also include design, fabrication, installation and commissioning of water and wastewater systems using its proprietary advanced membrane technologies such as the membrane bioreactor (mbr) technology. ce has designed and built several of the largest industrial wastewater treatment plants in asia using the mbr technology. ce undertakes both turnkey and water investment projects (tot/bot/boo), as well as provides treatment plant operation and maintenance services. through its wholly-owned subsidiary, memstar pte ltd is one of the largest pvdf hollow fibre membrane manufacturers in the world.
in april 2015, citic became the largest shareholder of ce. citic limited is china’s largest conglomerate operating domestically and overseas, with businesses in financial services, resources and energy, manufacturing, engineering, contracting and real estate, as well as other services.
in november 2016, crf envirotech co., ltd. completed the acquisition of the entire stake held by kkr china water investment limited in citic envirotech ltd, and became its second largest shareholder. crf envirotech co., ltd is a joint venture between crf envirotech fund l.p. and china reform conson soochow overseas fund i l.p., which are in turn sponsored mainly by china reform holdings corporation ltd (“crhc”). crhc, a wholly stated-owned investment company plays a unique and crucial role in china's state-owned assets management and restructuring process.
about shandong hi-speed eb industrial investment fund.
shandong high-speed eb industrial investment fund (the “fund”) was established in april 2014 and is sponsored by the shandong high-speed group and china everbright limited, focusing on the areas including the general infrastructure, environmental protection, clean energy, logistics, and any other potential investment opportunities brought by the urbanization in china.
shandong hi-speed group co., ltd is a solely state-owned comprehensive enterprise group, with the characteristics of modernization, internationalization and high-efficiency. its leaders are managed by shandong provincial committee and the state-owned assets supervision and administration committee of shandong province fulfill the responsibilities of the investors. it is mainly engaged in investment, construction, operation and management of highways, bridges, railways, rail transits, harbors, shipping and logistic, and also sets foot in construction, building material, information, financing, real estate and other sectors related to its main business. shandong high-speed group is endowed with the unique advantage in polices and resources. there are a number of functional subsidiaries within the group, including highway construction and operation, raw materials supply, service area development, which will contribute a great synergy advantage to the relevant investment opportunities of the fund.
