breaking news E

France: SUEZ and Veolia have announced the signing of an agreement for the acquisition by SUEZ of all 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.

SUEZ is a major player in environmental services. For almost 160 years, SUEZ has supported local communities and industrial companies in the management of essential services such as water, waste, and air quality. As such, SUEZ produces drinking water for 66 million people worldwide, recovers 2 million tons of secondary raw materials per year, and generates 3.1 TWh of renewable energy from waste. In our ongoing management of the ecological transition and climate change challenges, SUEZ relies on the expertise and commitment of its 35,000 employees (particularly in France, Italy, Central Europe, Africa, Asia, and Australia) to offer high value-added and customized environmental solutions to all its customers. SUEZ’s expertise allows, for instance, its customers to avoid the emission of 4.2 million tons of CO2, thus improving their carbon footprint and their impact on climate. With a turnover of more than 7.5 billion euros in 2021 and backed by its expertise and capacity to innovate, SUEZ has strong growth prospects. SUEZ relies on a solid consortium of investors made up of Meridiam and GIP – with 40% stakes each – and the Caisse des Dépôts et Consignations Group with a 20% stake in the capital, including 8% held by CNP Assurances, to pursue its strategic development plans in France and internationally.

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 achieved consolidated revenue of 28,508 billion euros in 2021.

© Smart Water & Waste World. Send us your editorial contributions at mayur@smartwww.in