Japan Bank for International Cooperation will also invest up to US$92 million in classified shares to support Metito’s growth opportunities.
Metito has built more than 3000 facilities for water desalination, water and wastewater treatment and recycling, and also provides utility services in the United Arab Emirates, Egypt and China.
The acquisition will allow Mitsubishi Corp and Mitsubishi Heavy Industries to expand their presence in the Middle East, Africa and Asia.