omniture

MBK Partners and Hudson Sell 92.7% Equity Interests of GSEI to Beijing Enterprises Holdings Limited

Enables BEHL to Reinforce its Leadership in Environmental Protection Services Industry

HONG KONG, Dec. 24, 2014 /PRNewswire/ -- MBK Partners ("MBKP"), Hudson Clean Energy Partners ("Hudson") and Beijing Enterprises Holdings Limited (HKEx: 0392, "BEHL") today announced the closing of a transaction (the "Transaction"") under which MBKP and Hudson sell 92.7% equity interests in GSE Investment Corporation ("GSEI"), a premier operator of waste-to-energy and water/wastewater treatment projects, to BEHL.

GSEI, headquartered in Beijing, owns and operates a portfolio of 13 high-quality assets concentrated in key economically developed areas in China, including Beijing, Shanghai and Jiangsu Province, with total water and waste water treatment capacity of 1.69 million tons/day and solid waste treatment capacity of 2,540 tons/day. In particular, the Company's flagship waste-to-energy project in Beijing is the largest single-line plant in Asia.

Mr. KC Kung, Partner and Head of Greater China of MBKP, said, "We are pleased to reach this Agreement and achieve a successful outcome for our investment in GSEI. Since assuming ownership in 2009, we managed to build a successful partnership with GSEI and work with the Company to grow its business. BEHL and GSEI have tremendous synergies in their businesses and business values, and we expect the acquisition, which is a landmark deal in environmental protection services industry, will continue to fuel the robust growth of GSEI with its new ownership structure."

Mr. Paul Ho, Partner of Hudson, said, "We are privileged to have partnered with MBKP to bolster GSEI's growth by contributing our clean energy industry experience, management expertise and investments in the past three years. As our first investment in the dynamic Chinese market, GSEI is a good example of the clean energy infrastructure investments we make globally for our investors that deliver strong returns."

The Spokesman for BEHL said, "It was clear to us that GSEI's strategic assets make it highly complementary to our operations and development plan. The acquisition will further expand our footprint across China. Given our leading position, experienced management and extensive network, we are confident that valuable synergies will be created to achieve sustainable growth of both GSEI and BEHL."

The spokesman added, "With the Chinese authorities paying more attention to environmental protection, the industry is expecting more supportive policies such as the RMB2,000bn Water Pollution Prevention Action Plan. We look forward to working with the management and the talents at GSEI to seize market opportunities arising from the compelling industry outlook, and to continue our growth in tandem with the rapid development of the environmental protection service industry."

About MBK Partners

MBK Partners is one of the largest independent private equity firms in the Asia-Pacific region, with over $8.1 billion in capital under management. With a dedicated focus on acquisitions in North Asia, Korea, Japan and Greater China, its investment teams are located in Seoul, Tokyo, Shanghai and Hong Kong. Further information about MBK Partners can be found at www.mbkpartnerslp.com.

About Hudson Clean Energy Partners

Hudson Clean Energy Partners is a global private equity firm that invests in the dynamic and fast-growing clean energy market, with over $1.3 billion in capital under management. Hudson invests exclusively in companies focused on renewable power, alternative fuels, and energy efficiency and services. Hudson's investment strategy focuses on high-growth, asset-based, capital-intensive segments of the clean energy value chain using commercialized technologies to extract energy from wind, solar,  biomass, hydro and other renewable sources. Further information about Hudson can be found at www.HudsonCEP.com.

About Beijing Enterprises Holdings Limited (HKEx: 0392)

Beijing Enterprises Holdings Limited is the sole overseas listed conglomerate controlled by the Beijing Municipal Government for channeling capital, technology and management expertise from international market into Beijing's development priorities. As a professional public utilities provider, BEHL is a diversified conglomerate with focus on gas business, water services business, green industry and solid waste treatment, and beer business. Further information about BEHL can be found at www.behl.com.hk.

About GSE Investment Corporation

GSEI engages in the operations and maintenance of water, waste water and waste to energy plants in China. The Company is one of the top private environmental protection companies in China. Currently, GSEI owns and operates a portfolio of 13 high-quality assets concentrated in key economically developed regions in China, including Beijing, Shanghai and Jiangsu Province, with total water and waste water treatment capacity of 1.69 million tons/day and solid waste treatment capacity of 2,540 tons/day.

Source:
MBK Partners
Hudson Clean Energy Partners
Beijing Enterprises Holdings Limited
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