Beijing Enterprises has bought a German waste management company for €1.44bn, in the largest ever Chinese acquisition of a Germany business.
Private equity group EQT said on Thursday it had agreed to sell its EEW Energy from Waste operation to the Chinese conglomerate, which is controlled by the Beijing city government and has interests in waste management, gas and water supply, and beer. The deal values the German group at €1.8bn including debt, said a person familiar with the matter.
News of the acquisition comes in the same week that ChemChina, the Chinese state-owned group, launched a $43.8bn bid for Swiss agribusiness Syngenta, in what would be China’s largest ever overseas takeover.
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