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Suez Sues Hungarian City for Canceling Contract, Nemzet Says

Suez Environnement Co., 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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