Veolia: Sale of Hazardous Waste Assets in France to Suez

Rhea-AI Summary

Veolia has entered an agreement with Suez for the acquisition of all hazardous waste assets in France, addressing European Commission competition concerns. The assets have an enterprise value of 690 million euros. This transaction includes a unilateral put option, allowing both parties to move forward pending regulatory approvals and employee consultations.

Veolia aims to be a leader in ecological transformation, with a workforce of nearly 179,000 employees, focusing on innovative water, waste, and energy management solutions.

Positive

• Acquisition of hazardous waste assets valued at 690 million euros enhances Veolia's market position.
• Agreement supports compliance with European Commission's competition concerns, ensuring regulatory alignment.

Negative

• None.

PARIS--(BUSINESS WIRE)-- Regulatory News:

Veolia (Paris:VIE) and Suez announce the signing of an agreement for the acquisition by Suez of all of the hazardous waste assets in France as part of the commitments made by Veolia to address the European Commission competition concerns. The assets represent an enterprise value of 690 million euros.

The agreement is formalized through a unilateral put option, which will allow the parties to complete the transaction, as well as the consultation process with Veolia's employee representative bodies and to obtain the necessary regulatory approvals. The transaction will be carried out in line with all the social commitments announced by the two groups.

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Veolia group aims to be the benchmark company for ecological transformation. With nearly 179,000 employees worldwide, the Group designs and provides game-changing solutions that are both useful and practical for water, waste and energy management. Through its three complementary business activities, Veolia helps to develop access to resources, preserve available resources, and replenish 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

View source version on businesswire.com: https://www.businesswire.com/news/home/20220506005177/en/

Relations presse Groupe

Laurent Obadia-Evgeniya Mazalova

Emilie Dupas - Mathilde Bouchoux

+ 33 6 27 45 11 38 / + 33 6 16 24 51 00

presse.groupe@veolia.com

Relations analystes et investisseurs

Ronald Wasylec - Ariane de Lamaze

+ 33 1 85 57 84 76 / 84 80

investor-relations@veolia.com

Source: Veolia

FAQ

What is the value of the hazardous waste assets acquired by Veolia from Suez?

The assets have an enterprise value of 690 million euros.

What does the acquisition of hazardous waste assets by Veolia address?

The acquisition addresses competition concerns raised by the European Commission.

What is the employee count at Veolia?

Veolia employs nearly 179,000 people worldwide.

What is Veolia's focus in its business operations?

Veolia focuses on water, waste, and energy management solutions.

What kind of option is involved in Veolia's agreement with Suez?

The agreement includes a unilateral put option.