Suez and Caisse de dépôt et placement du Québec buy GE Water

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Suez and Caisse de dépôt et placement du Québec buy GE Water

SUEZ has announced that, together with Caisse de dépôt et placement du Québec, it has entered into a binding agreement to purchase GE Water & Process Technologies from General Electric Company for €3.2 billion (US$3.4 billion) enterprise value in an all‐cash transaction. 

GE Water is a worldwide leading systems and services provider for industrial clients, supplying state‐ of‐the art water, waste‐water and process systems solutions to blue‐chip customers. GE Water generated US$2.1 billion revenues in 2016.

The transaction, unanimously approved by the Board of SUEZ, combines two complementary players, covering the entire value chain making SUEZ a leaderin waterresource management. It enhances SUEZ’ long term profitable growth, and offers an unparalleled value proposition to SUEZ shareholders.

Accuracy has acted as advisor to Suez and Caisse de Dépôt et Placement du Québec in their acquisition of GE Water & Process Technologies from General Electric for a value of €3.2 million. Accuracy carried out the financial due diligence for which it mobilised its international teams to the US and Canada. The engagement has been led by Stéphane Perrotto (Partner based in France), Ignacio Lliso (Partner based in Spain), and Léo Konstadulakis (Director based in Canada).

Jean‐Louis Chaussade, CEO of SUEZ, said:

“I am very proud to announce the acquisition of GE Water, which will accelerate the implementation of SUEZ’ 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. Clients will benefit from the combined knowledge, expertise, geographic footprint and leading edge products and services available. The transaction will also deliver strong value to our shareholders by enhancing SUEZ’ profitable growth profile. 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.”

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