ENGIE welcomes the GE Water & Process Technologies takeover by SUEZ
ENGIE is pleased with the acquisition by SUEZ of GE Water & Process Technologies, a GE subsidiary specialized in water treatment for the industrial sector.
As part of the transaction, ENGIE – first SUEZ shareholder with a 32.6% share – will sign up to a capital increase up to its participation in SUEZ, namely around EUR 240 million.
Besides, to deepen their industrial and commercial cooperation, ENGIE and SUEZ will develop synergies between both groups. They will also set up a specific cooperation plan, especially regarding services to industrial clients.
“I look forward to this operation that will enable SUEZ to reinforce its position in the industrial market and that paves the way to new cooperation between our groups, particularly in the United States”, stated Isabelle Kocher, ENGIE Chief Executive Officer.
ENGIE develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation and the rational use of resources. The Group provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 153,090 people worldwide and achieved revenues of €66.6 billion in 2016. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, DJSI World, DJSI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).