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China’s CITIC Bolsters UEL’s Wastewater Position

26 November 2014
Research Note

On 11 November 2014, CITIC Environment Protection Co Ltd and KKR China Water Investment Holdings, through a special purpose vehicle, made a conditional US$1.3 billion offer to acquire the remaining shares of Singapore-based United Envirotech Limited (UEL). KKR previously invested US$113.8 million in convertible bonds of UEL in 2011 and another US$40 million in 2013, increasing its stake to 26%.

UEL provides engineering services using membrane technology to municipal and industrial wastewater treatment projects, and also operates a portfolio of wastewater treatment plants across China. UEL’s customer base includes petrochemical companies China Petrochemical Corporation, China National Petroleum Corp, China National Offshore Oil Corp and Sembcorp Industries in Singapore.


  • UEL continues rounding-out wastewater treatment position
  • State-owned enterprises wielding greater global influence
  • Government policies underpin scaling interest

Companies Mentioned

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"Wastewater treatment usually takes a back seat to drinking water which is more at the forefront of people’s minds in terms of public health and safety.” @ErinBonneyCasey on @Marketplace. by @KA_marketplace #WastewaterTreatment

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