Suez: takes full control of Spain's Canaragua

(CercleFinance.com) - Suez has announced the acquisition of Itochu Group's 33.
4% stake in Canaragua, for 37 million euros, thus enabling it to hold all (100%) of the capital of the leading operator of water services in the Canaries.

Present in six of the eight islands of the archipelago and serving a population of 1.1 million inhabitants, in 2019 Canaragua's sales reached approximately 91 million euros, with EBITDA of about 16 million euros.

Suez explains that, through this deal, it is continuing to achieve its targets of selective reallocation of capital in Spain, thereby strengthening its capacity to win large contracts that have a high added value.


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