Suez to buy into water group

French energy and environment group Suez said it will take a 15 percent stake with its partner in a Chinese company for 1.5 billion yuan.

Suez Environment and its Hong Kong partner New World Services will buy into Chongqing Water Group (CWG), a major water service supplier, the French group said in a statement.

"We already assist Chongqing in achieving its environmental goals through our joint venture water companies. We are excited about further strengthening our relationship through this investment," Jean-Louis Chaussade, CEO of Suez Environment, said.