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4-Traders Homepage  >  Equities  >  Nyse  >  General Electric Company    GE

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General Electric : to Sell Water Unit to France's Suez, Canadian Pension Fund -- Update

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03/08/2017 | 08:45pm CEST
By Austen Hufford 

General Electric Co. 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 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.

With operations in 130 countries and over 7,500 employees, GE Water supplies equipment, chemicals and services for the treatment of water and wastewater. The unit had revenue of about $2 billion in 2016.

Suez and the pension fund said the long-term demand for the business was strong due to long-term concerns over growing water scarcity, the effect of climate change on the water cycle and the increased concerns related to industrial wastewater and its impact on the environment.

In October, GE announced plans to sell the business. The deal is expected to close by midyear.

For GE, the deal continues a trend of the past three years, as the company has pared back businesses, betting it can grow faster by focusing more narrowly on heavy industrial equipment and by building a service business rooted in software and the digital world. GE has sold off the bulk of its GE Capital financial-services arm, in deals valued at about $195 billion.

Write to Austen Hufford at [email protected]

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Financials ($)
Sales 2017 125 725 M
EBIT 2017 18 164 M
Net income 2017 12 802 M
Debt 2017 35 615 M
Yield 2017 3,52%
P/E ratio 2017 18,92
P/E ratio 2018 15,78
EV / Sales 2017 2,18x
EV / Sales 2018 2,09x
Capitalization 238 722 M
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Jeffrey R. Immelt Chairman & Chief Executive Officer
Shane Fitzsimons Senior Vice President-Global Operations
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Jim Fowler Chief Information Officer
Victor Abate Chief Technology Officer & Senior Vice President
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