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Veolia Announces the Completion of the Sale of the New Suez to the Consortium of Investors
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Rhea-AI Summary
Veolia has completed the sale of the new Suez to a consortium comprising Meridiam, GIP, CDC Group, and CNP Assurances as of January 31, 2022. This follows a successful tender offer for Suez shares and aligns with the European Commission's remedies to maintain competition in environmental services. The new Suez will generate revenues of approximately €7 billion and employ 35,000 people across various regions. This transaction marks a significant step for Veolia in its journey towards becoming a global leader in ecological transformation.
Positive
Completion of Suez sale strengthens Veolia's position in ecological transformation.
The new Suez will generate revenues of approximately €7 billion.
The transaction preserves 35,000 jobs and includes significant international assets.
Negative
None.
PARIS--(BUSINESS WIRE)--
Regulatory News:
Following the very successful tender offer for the shares of Suez, Veolia (Paris:VIE) announces the completion1 on January 31st, 2022 of the sale of the new Suez to the Consortium of investors composed of Meridiam, GIP, CDC Group and CNP Assurances in line with the purchase agreement dated October 22nd, 2021, and for an unchanged enterprise value.
This transaction includes the main remedies approved by the European Commission to preserve competition in environmental services following the combination of Veolia and Suez. It therefore allows for the creation of an agile and sustainable new Suez from both an industrial and a social perspective, representing revenues of around €7 billion and a workforce of 35,000 employees.
The new Suez includes Suez's Water and Recycling & Recovery activities in France, international assets in Italy, Central Europe, Africa including Morocco, Central Asia, India, China and Australia, as well as global digital and environmental activities, thus preserving real growth prospects and strong capacities for innovation in France and worldwide.
For Veolia, this sale marks the culmination of the combination with Suez, initiated 17 months ago, and a starting point to enter the future of a global champion of ecological transformation with a solid balance sheet.
Veolia Group aims to become the benchmark company for ecological transformation. Present on five continents with nearly 179,000 employees, the Group designs and deploys useful, practical solutions for the management of water, waste and energy that are contributing to a radical turnaround of the current situation. Through its three complementary activities, Veolia helps to develop access to resources, to preserve available resources and to renew them. In 2020, the Veolia group served 95 million inhabitants with drinking water and 62 million with sanitation, produced nearly 43 million megawatt hours and recycled 47 million tonnes of waste. Veolia Environment (Paris Euronext: VIE) achieved consolidated sales of 26.010 billion euros in 2020. www.veolia.com
1Excluding Lydec, whose transfer will take place once all required authorisation has been obtained.
Investors & Analyst Relations
Ronald Wasylec - Ariane de Lamaze Tel + 33 (0)1 85 57 84 76 / 84 80
investor-relations@veolia.com
Source: Veolia
FAQ
What is the significance of Veolia's sale of the new Suez completed on January 31, 2022?
The sale marks a strategic move for Veolia to enhance its position in ecological transformation, with the new Suez generating about €7 billion in revenues.
Who acquired the new Suez from Veolia?
The new Suez was acquired by a consortium consisting of Meridiam, GIP, CDC Group, and CNP Assurances.
How many employees will the new Suez have?
The new Suez will have a workforce of approximately 35,000 employees.
What are the expected revenues for the new Suez?
The new Suez is expected to generate revenues of around €7 billion.
When was the agreement for the new Suez sale made?
The purchase agreement for the new Suez was dated October 22, 2021.
