Market digests Saur’s response to sale rumours
Published September 7th, 2017
The management of French private water operator Saur was quick to deny press reports last week that the due diligence process had started for a sale of the company by its major shareholders, BNP Paribas and BPCE.
The statement fell short of denying that a sale is on the horizon in the near term, however, and the market has been left with the distinct feeling that there is no smoke without fire, and that the prospect of a sale at some point next year remains.
Saur is gunning for revenues of around €1.3 billion in 2017 – incrementally ahead of 2016 – while EBITDA is also forecast to rise modestly from €131.4 million in 2016.
Despite generating around 10% of its revenues internationally in 2016, Saur lost its water contract in Armenia to Veolia in January, while its long-running management contract in Mecca and Taif in Saudi Arabia expired earlier this summer.