Veolia Closes the Sale of Its Subsidiary SADE-CGTH to NGE
04 Marzo 2024 - 1:48AM
Business Wire
Regulatory News:
Veolia (Paris:VIE) announces the closing of the acquisition by
NGE, an independent public works group, of SADE-CGTH, its
wholly-owned subsidiary that specialises in the construction and
rehabilitation of water and infrastructure networks. The sale
represents an enterprise value of 260 million euros.
"We are fully satisfied with the completion of this sale, which
follows the completion of consultations with employee
representatives bodies and the obtaining of the necessary
regulatory approvals. We are reassured about the industrial future
offered by the takeover by NGE, a recognised player in the public
works sector. This disposal is part of the regular review of our
asset portfolio, as construction activities are no longer part of
the Group's strategic business lines," said Estelle
Brachlianoff, CEO of Veolia.
SADE's activities are focused on civil engineering works and
network construction, mainly in the water sector and represent
annual revenue of around €1.1 billion in 2022 and a workforce of
around 6,900.
ABOUT VEOLIA
Veolia group aims to become the benchmark company for ecological
transformation. Present on five continents with nearly 218,000
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 2023, the Veolia group provided 113 million inhabitants
with drinking water and 103 million with sanitation, produced 42
million megawatt hours of energy and treated 63 million tonnes of
waste. Veolia Environnement (Paris Euronext: VIE) achieved
consolidated revenue of 45,351 million euros in 2023.
www.veolia.com
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VEOLIA PRESS RELATIONS Laurent Obadia - Evgeniya
Mazalova Anna Beaubatie - Aurélien Sarrosquy Tél.+ 33
(0) 1 85 57 86 25 presse.groupe@veolia.com
INVESTORS RELATIONS Ronald Wasylec - Ariane de
Lamaze Tél.+ 33 (0) 1 85 57 84 76 investor-relations@veolia.com
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