Suez Environnement and RWE signed an agreement to sell its 25% stake in Budapest Water Works
MADRID, April 18, 2012 (EuropaPress)
Suez Environnement and RWE have signed a preliminary agreement with the city of Budapest on the sale of its 25% stake in Budapest Water Works, the municipal water company in the city, the company, which did not specify the amount of the transaction .
In 1997, Suez Environnement and RWE acquired as part of an international tender, a 25% equity in Budapest Water Works, and obtained the award of a 25-year contract to operate the company, which the council Budapest remained the majority shareholder.
Since then, the two groups have significantly improved the level of services provided to the inhabitants of Budapest. They offer two million water management and quality of service in compliance with European standards, with rates lower than those in Hungary despite the investment made for rehabilitation of most of the distribution equipment city water.
This mutual agreement is reached the city after expressing his desire to directly manage the operation of water service and has been held under the terms stipulated in the contract.