The sale of Portuguese water utility Indaqua has been delayed after potential bidders requested additional information before submitting binding offers. Bids were originally due by late July, but the deadline was extended after at least one buyer sought more data related to concessions. Manila Water Co., Igneo Infrastructure Partners, British Columbia Investment Management Corp., and Basalt Infrastructure Partners remain in the process.

Antin Infrastructure Partners, which controls Indaqua since 2020, has not decided whether to proceed with the sale. Previously, non-binding offers valued the company at €1.3 billion ($1.5 billion) or more. Founded in 1994, Indaqua operates water supply and wastewater concessions in Portugal, serving approximately 810,000 clients, and in Spain, serving another 80,000.

The utility also operates in Angola through engineering projects and consultancy. Representatives for Antin and Basalt declined to comment, and other parties did not respond to requests.