French company Suez has taken over the Aguas de Barcelona company

SUEZ ENVIRONNEMENT announces it has just signed a binding preliminary agreement with CRITERIA CAIXACORP (CRITERIA) regarding a global transaction on AGUAS DE BARCELONA (AGBAR), the leading Spanish company in the water industry. SUEZ ENVIRONNEMENT will acquire the full control of AGBAR Water & Environment activities, and become a pure player, in Spain, with selective presence abroad, and positioning in fast growing markets. This strategic transaction is in the absolute continuity of the trustful relationship of both shareholders. It has the full support of the management of AGBAR.

The transaction presents a strong strategic and industrial rationale for SUEZ ENVIRONNEMENT by reinforcing its positioning on attractive water markets and achieving the control over AGBAR's unique portfolio of assets, with a business mix well-balanced between regulated and non-regulated activities.  

AGBAR is a full-cycle player in the water industry positioned on growth markets, with leading positions in Spain and Chile and a selective presence in the UK, Mexico, Algeria and China. The company has demonstrated fast growth in revenues in Water & Environment (+9.0% per annum over 2006-08) and a regular improvement of EBITDA margin which stands at 28.1% for 2008.

The combined capacities of both AGBAR and SUEZ ENVIRONNEMENT will act as a catalyst for the development of the Group, notably in terms of further positioning on growing markets in Spain and abroad, combination of commercial and operational forces, sharing best in-class technological expertise such as on water treatment infrastructures or desalinization, R&D and sustainable development focus.

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Suez Environnement s'installe en Espagne et au Chili (Le Figaro, 23/10/2009)