last update
July 20, 2021
The French Stock Exchange Authority (AMF) declares Veolia's proposed takeover bid for Suez compliant
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Veolia and SUEZ
reach historical agreement

Veolia and SUEZ signed a combination agreement on 14th May that allows the merger of the two groups to move forward, with an offer price of €20.50 per share (coupon attached). The full cash offer represents a significant premium on the intrinsic value of SUEZ.

Veolia's plan to create a global champion of ecological transformation is near, with a solid leadership team, post-merger revenues of around €37 billion including all five strategic SUEZ assets identified initially, and industrial synergies delivering significant value creation for Veolia shareholders today and in the future. This combination will have a unique and lasting impact for employees, whose dedication will be paramount for a successful integration.  

The groups have also agreed on the formation of a new SUEZ, a sustainable group from an industrial and social standpoint with revenues of around €7 billion, owned by a Consortium of primarily French investors - Meridiam, Global Infrastructure Partners, Caisse des Dépôts and CNP Assurances who have committed to a significant four years of job security for SUEZ employees in France. The new group will have real growth potential thanks to its international presence (over €1bn in turnover) and having the needed engineering, technological, service and digital skills in-house. This is good news for customers, municipalities and industries, and public authorities.

SUEZ and Veolia have targeted the end of 2021 to simultaneously close the public offer and the sale of the new SUEZ to the Consortium, subject to regulatory and competition approvals. You can find out more about the expected timeline in our FAQ section

Veolia and SUEZ will both continue to provide timely and relevant updates via their usual channels and this website. Sign up for the latest updates on the merger to stay informed or contact us here.

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

Read the announcementDownload the comprehensive project outline
Read the FAQ

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

July 20, 2021

The French Stock Exchange Authority (AMF) declares Veolia's proposed takeover bid for Suez compliant

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

June 29, 2021
Suez board recommends Veolia's offer
June 29, 2021
Proposed cash tender offer
April 12, 2021
Press release - Veolia-Suez agreement

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