Beijing Enterprises Water Group Limited (SEHK:371) made an offer to acquire additional 31% stake in Beijing Enterprises Urban Resources Group Limited (SEHK : 3718) for approximately HKD 870 million on April 28, 2022. Beijing Enterprises Water Group will pay HKD 0.78 in cash per share, for 1.12 billion shares of Beijing Enterprises Urban Resources Group. As of June 13, 2022, the offer becomes unconditional. The offer period commenced on May 27, 2022 and will close on July 4, 2022. As of June 13, 2022, the offer will remain open for acceptance until June 27, 2022. DBS Asia Capital Limited and China Tonghai Capital Limited acted as financial advisers to Beijing Enterprises Water Group Limited. Lego Corporate Finance Limited acted as independent financial adviser to the independent board committee of Beijing Enterprises Urban Resources Group Limited.

Beijing Enterprises Water Group Limited (SEHK:371) completed the acquisition of a 60.56% stake in Beijing Enterprises Urban Resources Group Limited (SEHK:3718) for HKD 1.7 billion on June 27, 2022.