ITOCHU Corporation, SUEZ and Five Capital Fund completed the acquisition of a 65% stake in Environment Development Company.

ITOCHU Corporation, SUEZ, a French based environmental company, and Five Capital Fund, a Saudi investment fund, completed the acquisition of a 65% stake in Environment Development Company, a Saudi hazardous waste management company. Financial terms were not disclosed. ITOCHU will collaborate with the new shareholders to introduce European waste management practices to EDCO, and aims to further contribute to Saudi Arabia’s economic growth and environmental conservation. ITOCHU will pursue development in the hazardous waste management business, based on its experience in Saudi Arabia and other industrial cities across the world.