PARIS, Feb 23 (Reuters) - 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)