The European Commission Approves the Acquisition of Suez by Veolia
14 Diciembre 2021 - 1:06PM
Business Wire
The project to build the world champion of
ecological transformation takes a decisive step closer to
completion
Regulatory News:
Veolia (Paris:VIE) welcomes the European Commission's decision
to approve the acquisition of Suez. This is a decisive step in the
creation of a global champion of ecological transformation, as the
green light from the European Commission is a key factor in the
realization of Veolia's industrial project.
Veolia has worked closely with the European Commission to
address all its competition concerns:
- The commercial agreement reached between Veolia and the
Consortium to create the new Suez has identified assets that remove
most of the competition concerns identified by the European
Commission. This commercial agreement signed with the Consortium of
investors consisting of Meridiam, GIP and La Caisse des Dépôts/CNP
Assurances, is documented by the combination agreement signed
between Veolia and Suez in April 2021 and the purchase agreement of
October 22, 2021. As a reminder, the new Suez would have revenues
of nearly €7 billion, including 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.
- In order to meet the requirements of the European Commission in
certain other markets, the Group has also granted some additional
remedies in the sectors of industrial water, mobile solutions and
special industrial waste.
With the sole condition precedent of the tender offer at a price
of €19.85 per Suez share (coupon attached)1 now fulfilled, the
combination between Veolia and Suez is entering its final phase,
with the closing date of the takeover bid set today by the French
Competition Authority AMF (Autorité des marchés financiers) on
January 7, 2022.
Antoine Frérot, Chairman and CEO of Veolia, said: "I am
delighted with this decision, which confirms the strength and the
relevance of our industrial project and its ability to meet the
challenges of the global climate and environmental crisis. This
step opens the final phase of the merger, which is only a matter of
weeks away. I am very much committed to ensure that it takes place
under the best possible conditions for all our stakeholders and I
will make sure that all our social commitments are respected
throughout this process.”
The proposed merger has already received 15 out of 18 approvals
from the main competition authorities2, with the examination still
underway by the competition authorities in Chile, the United
Kingdom and Australia.
About Veolia
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
1 After detachment of the €0.65 coupon on July 6, 2021,
corresponding to a total of €20.50 per share as announced on April
12, 2021. 2 The European Union, the United States, Canada,
Colombia, Ecuador, Morocco, Russia, Saudi Arabia, China, Taiwan,
South Korea, India, Brazil, Turkey and the United Arab
Emirates.
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version on businesswire.com: https://www.businesswire.com/news/home/20211214006202/en/
Group press relations Laurent Obadia - Evgeniya Mazalova
Emilie Dupas Tel.+ 33 (0) 1 85 57 33 33 / 86 25
presse.groupe@veolia.com
Investors & Analyst Relations Ronald Wasylec - Ariane
de Lamaze Tel. + 33 1 85 57 84 76 / 84 80
investor-relations@veolia.com
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