The PGGM Infrastructure Fund has entered into an agreement for the purchase of 20 percent of the shares in SUEZ Water Resources at a price of $601 million.
SUEZ Water Resources is an American subsidiary of France-based SUEZ. SUEZ Water Resources provides 2.1 million people with drinking water in the states of New Jersey, New York, Idaho, Pennsylvania, Delaware and Rhode Island. This makes it one of the largest private water companies in the United States.
The acquisition, which is subject to approval by local regulators, should close in the first half of 2019, and represents a significant expansion of investments in water infrastructure by the PGGM Infrastructure Fund.
The investment in SUEZ Water Resources is regarded by PGGM as an “investment in solutions.”
The Dutch asset manager plans to invest €20 billion ($23 billion) in 2020 with market-based financial returns and a measurable contribution to solutions in the field of clean water, food security, climate and care. Halfway through this year, approximately €13 billion ($15 billion) have been invested in this way for Pensioenfonds Zorg en Welzijn.
