Veolia Sold “New Suez”
End of January, French-based Veolia Group announced the completion of the sale of the “new Suez” to a consortium of investors. According to the group, this transaction “includes the main remedies approved by the European Commission to preserve competition in environmental services following the combination of Veolia and Suez”.
It would allow for creating a “new Suez” from both an industrial and a social perspective, representing revenues of around seven billion Euro and a workforce of 35,000 employees.
As reported, the “new Suez” includes 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, “thus preserving real growth prospects and strong capacities for innovation in France and worldwide”. For Veolia, this sale would mark the culmination of the combination with Suez, and “a starting point to enter the future of a global champion of ecological transformation with a solid balance sheet”. The group, present on five continents and employing nearly 179,000 people, intends to become the benchmark company for ecological transformation. In 2020, Veolia served 95 million inhabitants with drinking water and 62 million with sanitation, produced nearly 43 million megawatt-hours and recycled 47 million tons of waste. In the same year, it achieved consolidated sales of 26.010 billion Euro in 2020.
(Published in GLOBAL RECYCLING Magazine 1/2022, Page 20, Photo: Veolia Deutschand GmbH)
