Caisse de dépôt and Suez acquire GE Water in $3.4 bln deal

Caisse de dépôt et placement du Québec has partnered with French water optimization and waste recovery group Suez to acquire the water and process technologies business of General Electric Co. The deal values GE Water, a global provider of water treatment solutions, at about US$3.4 billion. It will see the Caisse invest more than US$700 million to secure a 30 percent stake. Suez will account for the remaining 70 percent of GE Water, which will form part of a new standalone business unit that includes all of Suez's existing industrial water activities. The Caisse said the investment facilitates its increased exposure to the global water sector.

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