Toshiba Corporation acquires 80% in UEM to strengthen water & waste water management business
Q. Toshiba Corporation on 16th September 2015 acquired a majority stake in which Indian company to strengthen its standing in water and waste water management business?- Published on 18 Sep 15a. UEM India Pvt Ltd
b. Thermax India
c. KEM India Pvt Ltd
d. None of the above
ANSWER: UEM India Pvt Ltd
Toshiba Corporation has acquired majority stake of 80% through acquisition of additional 54% stake in UEM. Minority shareholders remain Krishna Kshetry, founding member and IVFA. Toshiba Corporation increased its stake in the Noida based company from its promoter for a deal valued at around INR 400 crore. UEM is valued at INR 750 crore and the Japanese firm purchased a 26% stake in this company in March 2014. K. Matsui has been appointed as chairperson and MD of the company. UEM has presence over 30 nations across the US, C. America, Africa and Asia. India has around 18% of the world’s population yet only 2.4 % of its land area and 4% of its renewable water resources. Water segment has high growth potential in India, as per CII. CII has also said public private partnership (PPP) model with the state utilities, urban local bodies for water supply and distribution has business potential of around $1,750 billion, while setting up of water treatment plants, sewage and effluent treatment plant has a business potential of around $1,303 billion.
