French utility Suez in bidding for GE Water - Le Figaro
PARIS, Feb 22 (Reuters) - French waste and water company Suez is in the running to buy the water business U.S. industrial conglomerate General Electric has put up for sale, French newspaper Le Figaro reported in an advance copy of its Thursday edition.
The French group 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, the paper said, adding that Suez declined to comment.
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, according to the company.
(Reporting by Leigh Thomas; Editing by Toby Chopra)
