IFM – Acquisition of stake in water management provider in Spain
Australian fund manager IFM Investors has completed the acquisition of a EUR 1.02bn (USD 1.19bn) 49% stake in Spanish water company Aqualia from FCC. Aqualia is the water management subsidiary of FCC and provides services to 22.5 million people in 1,100 municipalities in 22 countries, mainly across Spain and Europe, Latin America, the Middle East and North Africa. IFM completed the acquisition through its IFM Global Infrastructure Fund. The transaction values the business at roughly EUR 2.08bn.