Suez Sues Hungarian City for Canceling Contract, Nemzet Says
Stock Chart for Suez Environnement Co (SEV)
Suez Environnement Co. (SEV), Europe’s second-largest water company, filed a claim for 32.3 million euros ($44 million) compensation at a Vienna-based arbitration court after the Hungarian city of Pecs terminated a contract, Magyar Nemzet reported.
Pecs city council rejects the claim, according to the newspaper.
The council canceled in 2009 a 25-year contract with Pecsi Vizmuvek Zrt., of which Suez Environnement owns 48 percent and Pecs 51 percent, and set up its own company, Nemzet said.
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