MADRID (Reuters) - France’s Suez Environnement does not plan to remain a stakeholder in Spanish gas group Gas Natural for the long term, Suez’s managing director said in an interview with Spanish daily Expansion on Saturday.

“We are not an energy company and we do not plan to keep our Gas Natural stake for the long term,” Managing Director Jean-Louis Chaussade.
The world’s second largest environmental services group holds 2 percent of Gas Natural and recently invested 90 million euros in the Catalan gas company’s capital hike to fully subscribe this stake to avoid dilution for shareholders.
Gas Natural increased capital to part finance its acquisition of Spanish power firm Union Fenosa.
Suez’s other main investment in Spain’s energy sector, its 45.6 percent of water and services group Agbar, is however strategic, Chaussade said.
The French group is also keen to maintain the relationship with its Agbar partners Spanish savings bank La Caixa and its industrial holding Criteria Corp.
Chaussade confirmed talks with La Caixa and Criteria over the possibility of Suez taking control of Agbar had ended without any agreement.
“There were talks with La Caixa, but we were not the only ones to make the decisions. These are made in agreement with our partners,” Chaussade said.
Last month, Spanish press reports said Suez made an offer to La Caixa for a further 24 percent of Spain’s leading water distribution company, taking its stake to a controlling level of about 70 percent. It proposed swapping Agbar’s 55 percent stake in insurer Adeslas for the additional shares.
Suez is very happy with its stake in Agbar, however, and its objective is to do everything possible to ensure the company continues with its strong performance, Chaussade said.
“We are interested in Agbar growing in Spain and overseas,” he said.
Suez also has no plans to sell its 33 percent of Spanish water company Aguas de Valencia, which it bought in 2007, despite difficult relations with the main shareholder Agval.