last update
May 14, 2021
Veolia and SUEZ have signed a Combination Agreement between themselves and a Memorandum of Understanding with Meridiam–GIP–Caisse des Dépôts/CNP Assurances for the acquisition of the new SUEZ
Read the news
Close

Veolia and SUEZ
reach historical agreement

Veolia and SUEZ have reached an agreement in principle that will allow a merger between the two groups to proceed with an improved offer price of €20.50 per share (coupon attached) on the conclusion of the acquisition agreement. The offer, which represents a significant premium on the intrinsic value of SUEZ, can be redeemed wholly in cash and may also include an option to receive Veolia shares for part of the shareholders who want to participate in the enlarged group’s future.

The agreement allows the implementation of Veolia's plan to create a global champion of ecological transformation, with integrated leadership, post-merger revenues of around €37 billion including all five strategic SUEZ assets identified, and industrial synergies delivering significant value creation for Veolia shareholders today and for years to come. This combination will have a unique and lasting impact for employees, whose dedication was key throughout this process and will be paramount for a successful integration.  

The groups have also agreed on the formation of a new SUEZ, a significant and sustainable group from an industrial and social standpoint, with revenues of around €7 billion and majority long-term French investors in Meridiam and its French partners, who have committed to a significant four years of job security for SUEZ employees. The new group will have real growth potential thanks to a significant international presence (over €1bn in turnover) and all the necessary engineering, technological, service and digital skills in house. This is good news for customers, local authorities and public authorities.

The agreement includes key commitments that neutralize the areas of concern for Veolia in its recent campaign.

Both parties have made a commitment to reach a final agreement by May 14th and will work together to obtain all necessary authorizations including antitrust and, of course, shareholder approval at the AGM. It is expected that the timeline presented by Veolia will be tremendously accelerated by this agreement and it is hoped that the takeover bid will be completed at the very beginning of the autumn. 

Read the full announcement, including statements from Veolia and SUEZ leadership:

Read the announcementDownload the comprehensive project outline

April 12, 2021

"This agreement is beneficial for everyone: it guarantees the long-term future of SUEZ in France in a way that preserves competition, and it guarantees jobs. All stakeholders in both groups are therefore winners. The time for confrontation is over, the time for combination has begun"

Antoine Frérot, Chairman & CEO of Veolia

April 12, 2021

“Reshaping the water and waste market”

David Keohane, Financial Times

April 12, 2021

“The deal comes at a time when governments world-wide are boosting spending on infrastructure as part of efforts to recover from the pandemic and overhaul their economies to meet commitments under the Paris climate accord.”

Nick Kostov, Wall Street Journal

April 13, 2021

“The enlarged Veolia will have 37 billion euros in annual revenue, compared with 26 billion euros last year, and greater exposure to faster-growing international markets.”

Francois de Beaupuy, Bloomberg

April 14, 2021

“The success of the deal is mostly due to the determination of Antoine Frérot, Veolia's CEO, who succeeds where some of his predecessors have failed. The takeover is expected to be completed in early autumn 2021.”

Les Echos

The team behind the project

Antoine Frérot, Chairman and CEO of Veolia
Antoine Frérot
Chairman & CEO
  • CEO of Veolia for more than 10 years
  • Successfully delivered strategic transformation and profitable growth, cementing the company's
    status as a leading provider of environmental services
Estelle Brachlianoff, COO of Veolia
Estelle Brachlianoff
Chief Operating Officer
  • One of the world’s top environmental industry experts
  • Managed Veolia’s most important divisions and geographies, including the UK and Netherlands
Olivier Brousse, EVP for strategy and innovation at Veolia
Olivier Brousse
EVP FOR STRATEGY & INNOVATION
  • An engineer with 30 years of experience
  • Successfully helped large infrastructure and environmental services companies around the world transform to meet the sector’s unprecedented transformation
Claude Laruelle, CFO of Veolia
Claude Laruelle
Chief Financial Officer
  • Responsible for expansion of group’s international footprint
  • Led Veolia’s operations in North America and East Asia/Pacific

FAQ

We are here to answer any questions you may have on the offer.
If you have any additional questions not covered below, please get in touch.

Read the FAQ

Key materials

April 12, 2021
Press release - Veolia-Suez agreement
February 8, 2021
Cash Tender Offer

stay updated

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Contact us

Institutional Shareholders
Georgeson - Mr. Matthieu Simon-Blavier
Retail / Private Shareholders
Morrow Sodali
Veolia Group Media Relations
Veolia - Mrs. Sophie Gaucher
Tel +33 6 79 42 12 06
Thank you for your message.
Oops! Something went wrong while submitting the form.