BlackRock-backed Suez taps HSBC to review China assets
French utility group Suez is reviewing its Chinese water-infrastructure assets, people familiar with the matter said, as the company looks at potential ways to streamline its global operations.
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The BlackRock-backed company is working with HSBC Holdings to study options for the business, the people said, asking not to be identified because the deliberations are private. It has approached a select group of potential buyers to gauge their interest, according to the people.
A transaction could value the China water business at more than US$1 billion, some of the people said. Suez will soon ask for non-binding bids for the assets, which could attract Chinese firms and infrastructure funds, the people said.
Considerations are very preliminary and may not lead to a deal, they said. Suez could decide to keep the assets depending on the offers it receives, the people said.
A spokeswoman for Suez said the company is making a market assessment of its operations, though it has no plan to sell its Chinese assets. A representative for HSBC declined to comment. L'Informé reported in February that Suez was debating the future strategy for some of its overseas operations, including whether to divest some Chinese assets.
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Suez entered China's water market in 1975 as one of the first international companies investing in the country's environmental industry, according to its website. It has had a presence in Southeast Asia since 1953 with operations in Singapore, the Philippines, Vietnam and Indonesia, among others.
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Asia Times
an hour ago
- Asia Times
Asia's shaky economies need a US-China trade truce, fast
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As the full brunt of those import taxes hits, Japan and Korea are sure to slide deeper into the red. Those levies include 30% on China, down from 145% earlier, 25% on autos, 50% on steel and aluminum and 10% across the board globally. Things could quickly get worse from there if China's factory gate deflation deepens. In May, China's producer prices fell to the lowest level in nearly two years. Consumer prices, meanwhile, extended declines as trade headwinds collide with a prolonged housing downturn. The 3.3% year-on-year drop in the May producer price index was even steeper than the 2.7% decline in April — and the deepest contraction in 22 months. China, says economist Zhiwei Zhang at Pinpoint Asset Management, 'continues to face persistent deflationary pressure.' 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RTHK
2 hours ago
- RTHK
China joins growing chorus over planes, parts tariffs
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South China Morning Post
2 hours ago
- South China Morning Post
Chinese GoPro rival Insta360 sees strong debut in Shanghai IPO as firm eyes expansion
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