The Australian fund acquires 49% of Aqualia

New Cairo WWTP. — Courtesy photo

THE Australian investment management company IFM Investors has reached an agreement with FCC to acquire 49% of Aqualia for €1,024 million. The agreement is subject to the pertinent regulatory approvals.

This operation enhances Aqualia's capacity to tap into market opportunities that emerge in the next few years and is a testimony to the company's track record and a recognition of its reputation as an expert technology partner, for administrations and industry alike, in the water management area.

This is IFM Investors' first deal in the water industry in continental Europe, and its third globally. The Australian fund has amassed more than 15 years of experience in the sector, having invested in Wyuna Water (Australia) in 2003 and Anglian Water (UK) in 2006.

IFM Investors, Executive Director – Europe Frederic Michel-Verdier said: “This is a rare opportunity to invest in a fast growing, international leader in water management. We admire the company’s strategy of ambitious but prudent growth outside of its domestic market and its commitment to customer service. We look forward to contributing our expertise in the water sector to further the development of its services.”

IFM Investors Global Head of Infrastructure Kyle Mangini commented: “FCC Aqualia is a great complement to our existing portfolio of assets. It is dedicated to innovating with its responsibility to society and the environment in mind; this aligns with our focus on long-term sustainable development and stewardship.”

Félix Parra, general manager of Aqualia, also expressed satisfaction at the deal, which, he said, reinforces the firm's commitment to partnering administrations to deliver a public service. Parra pledged to "continue work with renewed enthusiasm on all projects currently under way, and in all the territories where we operate, maintaining our commitment to people's welfare on the basis of transparent and ethical management, and striving to attain financial, social and environmental sustainability throughout the water cycle through a combination of efficiency and innovation."

Pablo Colio, CEO of FCC, highlighted IFM's experience in the infrastructure sector, noting that it is among the world's leading infrastructure management companies, and that it also conducts its business ethically, which, he added, makes the deal doubly pleasing. Colio said, "FCC is very proud that IFM has chosen Aqualia. Together, we will strengthen the company's lead in providing all kinds of services linked to water.” — SG