France's SUEZ and Spain's CriteriaCaixa have announced that they have sold their stakes in Aguas de Valencia to the Spanish company Fomento Urbano de Castellón, which now owns 97.35% of the shares.

The total value of this transaction, which regards 33.06% of the shares of Aguas de Valencia, is €70 million (US$76.8 million).

The transaction had been announced in 2014, when Fomento Urbano de Castellón already acquired interests in Aguas de Valencia from CaixaBank for €95 million, achieving a majority stake.

Aguas de Valencia is a business group comprised of 16 companies specialized in different areas related to water management. It provides supply to more than 3 million people. During its 125-year history its work has been linked to the progress and growth of more than 300 municipalities in Spain, Africa and Latin America.