New investors for : TINC and Farys
Summary
TINC, the infrastructure investor listed on Euronext Brussels, is taking a stake in Azulatis. Meanwhile, Azulatis serves some 50 clients in various sectors such as food, chemicals, agriculture, retail and logistics, healthcare and industrial production.Azulatis springs from the corporatization of the industrial arm of The Water Group. Prior to the participation by TINC, fellow water company Farys also contributes its industrial water activities to Azulatis and joins the capital on an equal footing.TINCs investment will strengthen Azulatis financial strength, allowing it to expand its operations and accelerate its capacity for innovation. TINC invests approximately 8 million and acquires a 33.33% stake in Azulatis. The investment is financed from available cash resources and will contribute immediately to TINCs earnings.