Darco Water to sell 60% stake in China unit; acquires 12% stake in another firm

SINGAPORE (June 16): Darco Water Technologies is disposing its 60% subsidiary Darco Youli to two purchasers, Hsu Chin-Kou and Kokuto Kaku, for about $2.7 million in cash.

Darco Youli is held through the group’s wholly-owned subsidiary Darco Remediation Technologies, and is engaged in medical waste processing. It began operations in March 2011.

Hsu, a director of Darco Youli who holds 40% of shares in the company as a minority partner, has agreed to buy an additional 40% interest at TWD10.27 (46.8 cents) each, or TWD 38.7 million in total, which translates to $1.8 million.

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