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BRIEF-Suez Environnement enters into binding agreement to purchase GE Water
2017年3月8日 / 晚上6点22分 / 6 个月前

BRIEF-Suez Environnement enters into binding agreement to purchase GE Water

March 8 (Reuters) - Suez Environnement Company SA:

* Will acquire along with CDPQ, in a 70/30 joint venture, 100% of GE Water

* Enters into binding agreement to purchase GE Water & process technologies (“GE Water”) from General Electric Company for 3.2 billion euros ($3.37 billion) enterprise value in an all‐cash transaction

* EPS accretive and positive free cash flow from year one ; double‐digit EPS accretion based on run‐rate cost‐synergies

* Has a fully underwritten bridge financing in place for the transaction, contemplated to be refinanced through : a long‐term senior bond for c. 1.1 billion euros

* Has a fully underwritten bridge financing in place for the transaction, contemplated to be refinanced through : hybrid bonds for c. 0.6 billion euros

* Fully underwritten bridge financing to be refinanced through: capital increase of c. 0.75 billion euros; co main shareholders, confirmed intent to participate in the capital increase for their prorata share

* Fully underwritten bridge financing to be refinanced through: c. 0.7 billion euros equity provided by CDPQ

* Full benefit of cost and revenue synergies realized by year 5

* By year 5: 65 million euro impact on EBITDA from identified annual run‐rate cost synergies (of which 80 pct achieved in year 3)

* By year 5: 200 million euro of revenue synergies per year

* By year 5: iplementation costs, spread over 2017‐19, equal to one year of cost synergies

* Transaction is expected to close by mid‐2017 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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