Sydney, Australia — (METERING.COM) — October 25, 2006 – Macquarie Bank of Australia, which acquired UK utility Thames Water from Germany’s RWE AG last week, has announced a hostile takeover bid for Techem, a water metering firm based in Germany. Techem monitors energy and water use for some 6 million homes and apartments in Germany and elsewhere in Europe. It also provides sales and rentals of water meters, heating system maintenance and bill collection.
The bank’s Macquarie European Infrastructure Fund II has already acquired a 17 per cent stake in Techem. Water and metering companies are attractive to investors, because of their stable cash flows.
Techem, which together with ista is one of the two dominant players in the European meter management space, has indicated it will oppose the bid.