By Inti Landauro
PARIS--French water and waste-treatment utility Suez
Environnement said an arbitration panel has sentenced the Argentine
government to pay $405 million in damages for terminating a water
and sewage concession contract in 2006.
In 1993, Suez Environnement's local unit Aguas Argentinas was
awarded the contract to manage water and sewage services in the
Buenos Aires area though the government 13 years later terminated
the contract. Suez has sought damages through the International
Center for Settlement of Investment Disputes.
"This decision represents an important step in the process of
solving this dispute. The next step consists of making sure that
the ICSID's decision is implemented," Suez Environnement said in a
statement released late Thursday.
-Write to Inti Landauro at inti.landauro@wsj.com
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