PARIS Feb 23 French waste and water group Suez
is considering an acquisition of the water business of
U.S. industrial conglomerate General Electric, a Suez
spokeswoman said on Thursday, confirming media reports.
French newspaper Le Figaro reported on Wednesday evening
that Suez was among a handful of other companies, mostly private
equity firms, left in the running after a second round of
bidding for GE Water & Process Technologies.
"GE Water is indeed a dossier that we are looking at because
its activities are in line with our strategy of boosting our
industrial market," the spokeswoman said.
She added that Suez would make sure its financial ratios are
not stretched in case of an acquisition of GE Water.
GE put the unit on the block when it announced it was
merging its power business with oil services group Baker Hughes
on Oct. 31. GE Water earns $250-$300 million a year before
interest, taxes, depreciation and amortization.
(Reporting by Benjamin Mallet; Writing by Geert De Clercq;
Editing by Sudip Kar-Gupta)