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08

Suez and Canadian Fund Manager to Buy General Electric Unit

By Tony Seruga

Jean-Louis Chaussade, chief executive of the French waste and water company Suez Environnement, said, “Clients will benefit from the combined knowledge, expertise, geographic footprint and leading edge products and services available.” CreditJasper Juinen/Bloomberg

LONDON — The French waste and water company Suez Environnement said on Wednesday that it had partnered with a Canadian pension fund manager to acquire General Electric’s water treatment technology business in an all-cash deal that valued the business at about $3.4 billion.

The industrial conglomerate put GE Water and Process Technologies up for sale in October after it agreed to merge its oil and gas division with a fellow services provider, Baker Hughes. That deal came together after Baker Hughes’s planned merger with another oil field services company, Halliburton, collapsed after the United States Justice Department sued to block the combination…

Suez and Canadian Fund Manager to Buy General Electric Unit

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