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Hassan Allam’s unit buys majority stake in Bioworks AG for undisclosed amount

Hassan Allam’s unit buys majority stake in Bioworks AG for undisclosed amount
Hassan Allam plans to be part of water poverty solutions

Cairo – Mubasher: Hassan Allam Holding announced that its subsidiary, Hassan Allam Holding B.V, acquired a majority stake in the German water, wastewater treatment firm, Bioworks AG, for an undisclosed amount.

The transaction represents a major extension to Hassan Allam Holding’s offerings in the water and wastewater treatment and boosts its leadership in sustainable systems for the water industry in Africa, the GCC, China, the US, Russia, and CIS countries, the Cairo-based construction and engineering group said in a statement.

“Clean water is an irreplaceable resource, and Hassan Allam Holding and its subsidiaries are dedicated to providing solutions that help to improve the water industry,” Hassan Allam, CEO of Hassan Allam Holding, commented.

Capitalising on this investment, the company plans to be part of water poverty solutions after water scarcity becomes a global concern, he added.

The deal marks Hassan Allam’s first acquisition in Europe, enhancing the company’s presence in the Middle East and North Africa (MENA) region.

Bioworks AG, a global player in water and wastewater technology headquartered in Munich, operates in the Middle East, Morocco, and North Africa, as well as in Germany, Europe, and the US.

“Today’s investment by Hassan Allam Holding opens joint growth opportunities for both Bioworks and Hassan Allam. As we work together, we expect to further the important role that environmental engineering plays in the world of the industry today,” Amr Allam, Co-CEO of Hassan Allam Holding, said.

Established in 2007, Bioworks has developed over 120 projects in 25 countries across the world.