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Beijing Enterprises Water Group¡¯s (BEWG) agreement with Veolia Water to a deal believed to mark the largest investment by an industrial Chinese investor in Europe demonstrates a new trend for Chinese investment, a lawyer involved in the deal said.

BEWG is to acquire the Portuguese water business of Veolia, a leading global operator of water services, for more than €95 million (US$123.5 million).

Pursuant to the sale and purchase agreement concluded on 21 March, BEWG or a wholly-owned subsidiary of the group will acquire from Veolia Water the entire share capital of Compagnie G¨¦n¨¦rale des Eaux (Portugal) ¨C Consultadoria e Engenharia (CGEP), a water supplier in Portugal, together with related quasi-capital contributions and a shareholder loan. ¡°This deal is part of a new trend of Chinese corporates that are now focusing on infrastructure,¡± Juan Mart¨ªn Perrotto, a Beijing-based partner at Ur¨ªa Men¨¦ndez, told China Business Law Journal.