Suez Environnement will remain a “spectator” to talks on the future of Saur as it has no interest in acquiring France’s third-largest water utility, according to Chief Executive Officer Jean-Louis Chaussade.
“Saur’s water services are low-cost and don’t correspond to my concept of water distribution in France and elsewhere,” he told the company’s annual general meeting today. Saur’s debt “has to be resolved and we can’t do much about that.”
Talks are ongoing between shareholders and lenders of Saur on the future of the utility. Le Figaro newspaper reported today talks have hit hurdles over Saur’s debt and capital needs.
Seche Environnement Chief Executive Officer Joel Seche has long sought to gain a majority stake in Saur, increasing his holding from the 33 percent he holds now. Saur’s other shareholders include the investment fund FSI with 38 percent, Axa Private Equity with 17 percent and Cube Infrastructure Fund with 12 percent, according to its website.