Essbio unit to acquire local waste treatment firm

Wednesday, September 14, 2011

Chilean firm Biodiversa, a subsidy of local water utility Essbio, has signed a contract to purchase 100% of waste treatment and disposal firm Hera Ecobío, part of Spain's Grupo Hera holding.

The purchase is due to be completed within 45 days, Essbio said in a filing to securities regulator SVS.

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.

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Essbio serves Chile's central-southern regions VI and VIII and is controlled by Canada's Ontario Teachers' Pension Plan.