Business Update
GE announced today it has signed a definitive agreement to sell its Water & Process Technologies business to SUEZ, a global services and solutions company with operations primarily in water and waste management. The deal remains subject to customary closing conditions such as regulatory approvals and appropriate consultation.
“I am inspired by the amount of interest we have had from prospective buyers, and by the intensity of this process overall. However, I can say, without doubt, that we have just found a great home for our people and our business.” said Heiner Markhoff, President and CEO, GE’s Water & Process Technologies. “By joining SUEZ, which has significant experience in the water field, we hope to take product innovation to the next level, combine our highly complementary strengths, better serve our customers, and grow in new and excited ways.”
With both SUEZ and GE having experience with large transactions of this nature, we expect a smooth transition with an expected close date in mid-2017.
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