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US$1.5b for waste firm
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AN investment group controlled by the Beijing city government has bought Germany’s largest waste management company, EEW, for 1.4 billion euros (US$1.5 billion).
This is the largest-ever Chinese acquisition of a German firm, Beijing Enterprises said.
“By learning about the latest German waste-to-energy technology and management expertise, we will help environmental protection in China and contribute to green development,” said Zhou Si, vice chairman of Beijing Enterprises.
EEW operates 18 garbage incinerators in Germany and neighboring countries.
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