Singapore's Sembcorp to buy U.S. Cascal for $206 mln

SINGAPORE, April 26 Mon Apr 26, 2010 12:50am EDT

SINGAPORE, April 26 (Reuters) - Singapore-listed conglomerate Sembcorp Industries (SCIL.SI) said its utility unit has made an offer to buy US-listed listed Cascal NV HOO.N, a water and wastewater services firm, for around $206 million.

As part of the deal, Sembcorp Utilities has agreed with Biwater Investments, a key shareholder of Cascal to buy a 58.4 percent stake in the New York listed firm. It has offered $6.75 a share if it acquires 80 percent of Cascal's outstanding shares. (Reporting by Harry Suhartono, editing by Saeed Azhar)

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