China Gezhouba Group Investment Holding Co., Ltd. (stock code: 600068, “CGGC”) recently closed a transaction whereby it purchases 75% shares in Kardan Water International Group (HK) Limited (“KWIG”) from Tahal Group Assets B.V. with a transaction scale of around 770 million RMB. Richard ZENG (Partner) and associates Wangqing SUN, Jun YE and Xingyu WU from Zhong Lun’s Beijing Office provided full legal services to CGGC for this project, and Jane YAO and Muriel TSANG of Zhong Lun’s Hong Kong Office provided strong support on Hong Kong law issues.
CGGC is a wholly-owned subsidiary of China Gezhouba Group Company Limited which is a Shanghai Stock Exchange listed company and a subsidiary of Gezhouba Group. KWIG is indirectly owned by Kardan N.V. which is listed on stock exchanges in Europe. KWIG mainly engages in water supply, waste water treatment, water re-use and related consulting servers. Through this transaction, CGGC acquires more than ten water treatment projects in China, enters the waste water treatment and industrial water supply fields and develops water related new businesses.