In July 2013, Mitsui & Co. acquired a 49% stake in Czech Republic water system operator Severomoravske vodvody a kanalizace Ostrava a.s. (SmVaK). Mitsui’s newly established subsidiary, Mit Infrastructure Europe Ltd. (MIE) acquired the stake from Aqualia Czech, S.L. a subsidiary of Spain Based FCC S.A. SmVaK produces and supplies drinking water to 1.3 million users and owns a 6,000-kilometer supply network along with 41 water and 67 wastewater plants. The price of the acquisition is €97 million. The Mitsui acquisition follows on the heals of FCC’s (Aqualia) 10 June 2013 agreement to sell its 50% stake in Proactiva Medio Ambiente to its joint venture partner Veolia Environnement for €150 million.
- Mitsui’s multi-pronged water strategy carries it to forefront of global water system owners
- JBIC gives competitive edge to scaling Japanese trading companies
- FCC takes two steps back with water divestments