BlackRock-Backed Suez Is Said to Tap HSBC to Review China Assets

Suez SA is reviewing its Chinese water infrastructure assets, people familiar with the matter said, as the French water utility looks at potential ways to streamline its global operations.

The BlackRock Inc.-backed company is working with HSBC Holdings Plc to study options for the business, the people said, asking not to be identified because the deliberations are private. It has approached a select group of potential buyers to gauge their interest, according to the people.

A transaction could value the China water business at more than $1 billion, some of the people said. Suez will soon ask for ...