Essbio to spend US$23.2mn on Hera Ecobío acquisition

- Friday, September 23, 2011

Essbio to spend US$23.2mn on Hera Ecobío acquisition

Chilean water utility Essbio, serving central-south regions VI, VII and VIII, will spend 12.0bn pesos (US$23.2mn) on its acquisition of waste treatment and disposal firm Hera Ecobío, part of Spain's Grupo Hera holding.

The deal will be completed on October 14, Essbio said in a filing to securities regulator SVS.

The purchase will help Essbio subsidy Biodiversa expand its business in areas such as remediation, according to the filing.

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Biodiversa, based in region VIII capital Concepción, designs and builds potable water and sewerage networks and rainwater drainage systems, as well as carrying out chemical and biological analysis.