November 13, 2017 / 11:47 AM / a year ago

France's Saur asks banks to prepare change of structure

PARIS, Nov 13 (Reuters) - French water utility Saur has decided to ask banks to prepare changes in its capital structure and debt financing, a Saur spokesman said on Monday.

Saur’s chief executive wants to center group activity on the water sector at the global level, said the spokesman, who spoke to Reuters of the plan following questions from the news agency on the matter.

Several sources had previously told Reuters banks Natixis, Morgan Stanley and BNP Paribas were working actively on a sale of Saur, owned by the two French banks on the one hand and by British funds on the other.

The Saur spokesman said of three banks approached to look at the issue:

“This decision ... is aimed at preparing in the most reliable and transparent conditions developments that will equip the group to proceed with an enterprise plan geared towards developing its activity as a ‘pure player’ in the water sector at world level.” (Reporting by Gilles Guillaume, Matthieu Protard, Julien Ponthus and Arno Schuetze; Writing by Brian Love; Editing by Ingrid Melander)

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