" NMDC Infra" It acquires a 51% stake in the Spanish company "Lantania Aguas"
ABU DHABI, 19 JANUARY / WAM / NMDC Group announced today that its wholly owned subsidiary, NMDC Infra, has entered into an agreement to acquire a 51% stake in Lantania Aguas, a subsidiary of the Spanish company Grupo Lantania, in order to form a leading international entity in the water sector, while the remaining 49% stake will remain owned by Lantania Group.
Following completion of the acquisition, the company will operate under the name Lantania NMDC Water, and will retain the current management team.
It is worth noting that the completion of the deal is subject to obtaining the necessary regulatory approvals.
Given the current challenges associated with water scarcity and the need for effective solutions and sustainable management of resources, the two companies’ cooperation reflects their shared commitment to providing effective solutions to one of the most important vital needs of communities around the world.
Lantania Water NMDC will combine the technical capabilities and broad capabilities of the NMDC Group, and the experience and experience of Lantania in the areas of desalination, treatment and water recycling, in addition to major industrial projects, with the aim of creating a global leader in the field of water infrastructure.
The new company, which bears the new name “Lantania NMDC Water,” will include more than 300 specialists and a portfolio of projects across several countries with a total value of 2 billion dirhams, which constitutes a solid base that supports its future growth prospects.
According to the agreement, the company will operate with a joint management structure that will enable it to enhance its financial, technological and operational capabilities, and expand its presence in strategic markets that include the Middle East and North Africa region, the markets of South and Southeast Asia, Europe, and Latin America.
Engineer Yasser Zaghloul, Group CEO of NMDC Group, said that this acquisition represents NMDC Group’s first entry into the European market, as it seeks to transfer UAE expertise and capabilities to Lantania with the aim of expanding its business. This step also comes within its strategic goals of geographical expansion and diversification of NMDC Infra’s operations in many different markets and activities.
He added that NMDC Group has long recognized the magnitude of the global challenges related to water shortages, so Lantanya NMDC Water will enable it to contribute to overcoming these obstacles by harnessing innovation capabilities and developing pioneering solutions.
For his part, Federico Avila, Chairman of the Board of Directors and CEO of Lantania Group, said that this cooperation represents a historic milestone in the group’s journey and a turning point for Lantania Aguas.
He added that the technical expertise and capabilities of NMDC Group, along with Lantania’s engineering capabilities and experience in this sector, will enable us to jointly implement major projects and establish global standards in sustainable water solutions, noting that trust in the shared vision that focuses on enhancing innovation, energy efficiency, and sustainability in all projects, will contribute significantly to enhancing global water security.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
