GS INIMA acquired by TAQA

TAQA agreed on 25 August 2025 to acquire GS Inima from GS Engineering & Construction at an enterprise value of $1.2bn, taking full ownership of the Madrid-based water company. The Korean group held its stake through Global Water Solutions, the sole owner of GS Inima, and completion was expected in 2026, subject to regulatory approvals. GS Inima generated revenue of $250–500M and an EBITDA of $100–200M, an EBITDA margin of [members only] and an EV/EBITDA multiple of [members only]. The purchase extended TAQA’s water business beyond the Middle East into Europe and the Americas, adding projects in ten countries. At the time of the deal, those assets represented 171 million imperial gallons a day of desalination capacity, 264 MIGD of drinking water capacity and 572 MIGD of wastewater and industrial treatment capacity, and provided water services to around 1.3 million people.