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General Electric to sell water unit to france's Suez, Canadian pension fund

March 7, 2017

By: Austen Hufford

General Electric Co. GE, said Wednesday it has agreed to sell its water and process technologies business to France's Suez SA and one of Canada's largest pension funds. Suez SEV, and Caisse de dépôt et placement du Québec are buying GE Water in a deal that values the unit at about $3.4 billion, the two companies said.

The pension fund will invest $700 million for a 30% stake while Suez will have a 70% stake and will contribute its own industrial-water business to create a new, self-standing business unit within Suez, encompassing all of its industrial-water activities...

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