Suez Environnement buys GDF stake in Italy's Acea
PARIS Feb 19 (Reuters) - Suez Environnement has bought GDF Suez's 3.95 percent stake in Rome-based utility Acea, taking its own shareholding to 12.5 percent as it seeks to grow its European water business in Italy.
Suez Environnement and Acea are partners in joint ventures in Tuscany and work together to manage water and sanitation services in Florence, Pisa, Arezzo, Siena and Grosseto for 2.5 million people, Suez said in a statement on Wednesday.
"The water market in Italy is an attractive one, which requires significant investment in sanitation and benefits from stable regulation," Suez said. "This is a boost to Suez Environnement's strategy of continuing to build a third pillar in the European water business, after France and Spain." (Reporting by James Regan; Editing by Andrew Callus)