By Austen Hufford
General Electric Co. GE, -0.20% 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, -0.18% 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.
Wall Street Journal
