Asia’s Richest Person To acquire Dutch Waste Firm
Asia’s richest person, Li Ka-shing, is set to buy RAV Water Treatment I B.V. for €943.68 million, according to Reuters.
Cheung Kong (Holdings) Ltd, which is handled by Li, will get hold of the firm for further expansion abroad which has been intended for infrastructure properties with stable income returns.
The acquisition involves Li’s partner groups Power Assets Holdings Ltd, Li Ka Shing Foundation Ltd, and Hutchison Whampao Ltd's Cheung Kong Infrastructure Holdings Ltd. They will be purchasing Netherland-based AVR-Afvalverwerking B.V., holder of RAV Water Treatment I B.V., which processes renewable energy from a waste incineration, a waste treatment process where organic substances found in wastes are burned.
Li’s businesses have looked for steady investment breaks in well-regulated, international markets. He wants to find markets overseas since there have been inadequate opportunities for expansion in Hong Kong.
This is the group’s second deal in waste management following Cheung Kong Infrastructure’s purchase of New Zealand waste company EnviroWaste Services Ltd in January. EnviroWaste Services Ltd was previously owned by Australian private equity firm Ironbridge.