Suez and CDPQ buys GE Water for 3.2bn euros
Suez and Canada's Caisse de dépôt et placement du Québec (CDPQ) are buying GE Water & Process Technologies from General Electric Company for €3.2bn in an all‐cash transaction. The deal is subject to customary closing conditions such as regulatory approvals and appropriate consultation.
GE Water is a worldwide leading systems and services provider for industrial clients, supplying state‐of‐the-art water, wastewater and process systems solutions to blue‐chip customers. It generated $2.1bn revenues in 2016.
The transaction will combine two complementary players and will make Suez a leader in water resource management.
Jean‐Louis Chaussade, Suez chief executive officer of Suez, said: “I am very proud to announce the acquisition of GE Water, which will accelerate the implementation of Suez’s strategy by strengthening its position in the promising and fast‐growing industrial water market. This combination will create further value for both our employees, clients and shareholders.
“I look forward to integrating GE Water’s highly skilled staff to our teams to form an unparalleled industrial water platform. We are also thrilled to join forces with CDPQ, which shares our long-term vision for our business.”
Michael Sabia, president and chief executive officer at CDPQ, said: “GE Water has positioned itself as a key player in the water treatment industry thanks to its cutting‐ edge technology and a management team that has proven itself highly skilled at leveraging that competitive advantage. Operating in a core industry, GE Water has built a premier business with recurring revenues and a high‐quality and diversified customer base.
“This investment is therefore highly aligned with CDPQ’s long‐term vision and its strategy of increasing its emphasis on stable assets anchored in the real economy, alongside key operators such as Suez.”
The acquisition is expected to close by mid‐2017 and is subject to receipt of required regulatory approvals (merger control authorities), including the EU and the US, and other customary closing conditions.
- Irish Water starts Ardsbeg Treatment Plant project Irish Water has started a project to build the new Ardsbeg Water Treatment Plant (WTP) which will ensure a high-quality... Read More >
- Carillion and Balfour Beatty in possible merger talks Water industry eyes are on infrastructure giants Balfour Beatty and Carillion following the announcement of a possible... Read More >
- Essex and Suffolk Water helps farmers get Pesti-wise A dozen farmers from around Abberton Reservoir's natural catchment area of Layer Brook were invited on a special visit by... Read More >
- Opinion: Why the EA needs to rethink its charges hike AD operators will have little time to adapt to the shock increase in charges proposed by the EA, writes Anaerobic... Read More >
- Top Tips for... chemical dosing Chemical dosing is a critical element of water and wastewater treatment, and while most users choose to invest in their... Read More >
- Top Tips for... System Totex With Ofwat's AMP6 reforms putting Totex at the centre of the investment planning process, applying this approach at inlet... Read More >
- Gasification of Sludge: Innovation in Action Yorkshire Water's advanced thermal conversion (ATC) gasification plant at Lower Brighouse WWTW has achieved a timely... Read More >
- The Next Generation of Sludge Dewatering The established equipment for dewatering sludge all comes with various pros and cons, but technology is now evolving for the... Read More >