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Veolia has successfully finalized the sale of assets as part of antitrust measures with the European Commission following its merger with Suez. The total enterprise value of the sold assets is approximately €920 million, which will aid in debt reduction and support the company's growth initiatives. The asset sales include hazardous waste operations in France to Suez, mobile water treatment services in Europe to Saur, and industrial water treatment services in France to Séché Environnement.
Positive
Sale of assets valued at approximately €920 million.
Reduction of debt expected to enhance financial stability.
Continued strong presence in hazardous waste and water treatment sectors.
Negative
None.
PARIS--(BUSINESS WIRE)--
Regulatory News:
Veolia (Paris:VIE) announces the finalization of the sale of assets as part of the antitrust remedies agreed with the European Commission in the context of the merger between Veolia and Suez. The sale of the assets sold amounts to approximately €920 million in enterprise value and will contribute to the reduction of debt and support the Group's development.
This sale has three components:
The sale of part of the hazardous waste assets in France to Suez.
The sale of activities in mobile water treatment services in Europe to Saur.
The sale of industrial water treatment services in France to Séché Environnement.
When these operations are completed, Veolia will remain a major player in the segments concerned (hazardous waste, industrial water, mobile units).
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About Veolia
Veolia Group aims to become the benchmark company for ecological transformation. Present on five continents with nearly 220,000 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 2021, the Veolia group provided 79 million inhabitants with drinking water and 61 million with sanitation, produced nearly 48 million megawatt hours and recovered 48 million tonnes of waste. Veolia Environnement (Paris Euronext: VIE) achieved consolidated revenue of 28.508 billion euros in 2021. www.veolia.com
What assets did Veolia sell in the recent transaction?
Veolia sold hazardous waste assets in France to Suez, mobile water treatment services in Europe to Saur, and industrial water treatment services in France to Séché Environnement.
What is the enterprise value of the assets sold by Veolia?
The enterprise value of the assets sold by Veolia amounts to approximately €920 million.
How will the asset sale impact Veolia's financial status?
The asset sale is expected to reduce Veolia's debt and support its future growth.
What regulatory condition was tied to the asset sale?
The asset sale was part of the antitrust remedies agreed upon with the European Commission concerning Veolia's merger with Suez.
