ACE Acea Spa

By Inti Landauro

PARIS--French waste and water management utility Suez Environnement (SEV.FR) Wednesday said it bought a 3.95% stake in Italian utility ACEA SpA (ACE.MI) which had belonged to GDF Suez (GSZ.FR).

With this acquisition Suez Environnement raises its stake in the Italian water and power utility to 12.5%.

The French company said it paid GDF Suez market price for the stake, which stood at 75.2 million euros ($103.2 million) on Wednesday.

GDF Suez owns 35.7% in Suez Environnement.

Write to Inti Landauro at inti.landauro@wsj.com