A unit of Suez Environnement, the second-biggest water utility, is one of three companies seeking to buy the water-treatment business of India’s Wipro Ltd. (WPRO), the Times of India reported, citing people it didn’t identify.
Suez’s Degremont, New Delhi-based Earth Water Group and Metito Ltd., based in Sharjah, United Arab Emirates, are preparing bids, according to the report.
Earth Water Group announced this week that it raised $15 million in funding for investments and possible acquisitions from CLSA Capital Partners of Singapore.
Previous customers of Wipro’s water unit include The Coca- Cola Co. and United Breweries Ltd. (UBBL), according to the report. Wipro, India’s third-largest software exporter, hired Anand Rathi Financial Services Ltd. to find a buyer, it said.
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