October 2, 2017 / 6:14 AM / a year ago

Suez finalises GE Water deal, confirms synergy targets

PARIS, Oct 2 (Reuters) - French waste and water group Suez said on Monday it had finalised its 3.2 billion euros ($3.4 billion) acquisition of GE Water at the end of September, and confirmed its synergy outlook for the deal.

The company is working on the 2018-2020 strategy for its new industrial water unit, which it will present to investors on Dec. 13.

Suez expects 65 million euros of cost synergies from the GE Water deal, of which 80 percent will be realised by the third year, and a 200 million euro synergy impact on revenue.

Chief executive Jean-Louis Chaussade said he could not comment on the company’s earnings guidance so soon before the publication of third-quarter results, but said there were “no particular concerns”. (Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta)

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