FCC Aqualia buys back shares in Czech business
FCC Aqualia is buying back a 49 per cent stake in its water business in the Czech Republic that it sold to Mitsui in 2013.
Mitsui is divesting the holding in Severomoravské vodovody a kanalizace Ostrava a. s. (SmVaK), and Aqualia lnfraestructuras Inenýring, in line with a change in strategy for its water business in Europe.
SmVaK is the largest water supply company in the Moravian-Silesian Region, one of 14 regions in the Czech Republic, and is among the leaders in water supply in the country.
The acquisition is not expected to have a significant impact on FCC Aqualia’s earnings. The company’s billings totalled €1.01 billion ($1.19 billion) in 2016.