Abdul Latif Jameel Energy’s Almar Water Solutions expands its presence in Chile through acquisition of 50% stake in Aguas San Pedro S.A.
- Aguas San Pedro S.A. provides drinking water and sanitation services under concession regime in the municipal market in Chile.
- Acquisition will empower Almar Water Solutions to create a regional platform for urban services, laying the foundations to expand its activities in Chile and Latin America.
Almar Water Solutions, a leading company in the development and management of water infrastructure and services, and part of Abdul Latif Jameel Energy, has acquired a 50% stake in Aguas San Pedro S.A., a company that operates in the water concession market in Chile, providing services to more than 39,000 customers and serving a population of more than 150,000 inhabitants.
The acquisition will see Almar Water Solutions enter the urban services market (comprehensive water cycle) and further expand its activities in Chile, and Latin America.
Fady Jameel, Deputy President and Vice Chairman, Abdul Latif Jameel, said:
“This latest acquisition demonstrates the strength of our commitment to contributing to a more sustainable future for all. Access to clean water is one of the greatest challenges facing humanity and we are dedicated to working with our partners to find innovative solutions towards the efficient management of water resources on a global scale. By acquiring stakes in firms such as Aguas San Pedro S.A., Almar Water Solutions is supporting the delivery of tailored solutions that meet the unique needs of each community and customer in which it operates. This acquisition is of particular importance given the strategic focus that Abdul Latif Jameel Energy places on Chile as one of Latin America’s fastest-growing economies”
This transaction follows Almar Water Solutions’ acquisitions of Osmoflo SpA in 2019 and 50% of Aguas y Riles S.A. in 2021 in the industrial water market, which are now operating as Almar Water Services Latam after the merger.
After the transaction closed, Carlos Cosín, CEO of Almar Water Solutions, said:
“We reaffirm our commitment to providing municipal and industrial water services hand in hand with local partners, to extend our expertise and financial capacity to Chile and other areas of Latin America. The region has a very large water demand, unequal distribution of resources and big effluent treatment needs, where Almar can contribute significant value in the development and management of solutions based on non-conventional technologies.”
After more than five years in the market, Almar Water Solutions already has a presence and assets in operation in Spain, Chile, Egypt, Bahrain, and Saudi Arabia, and continues its international expansion, focusing on strategically important markets such as Asia-Pacific and the United States of America, with an approach aimed at investments, services, and technological innovation.