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April 26, 2021

Veolia-SUEZ merger antitrust progress accelerates

The agreement between Veolia and SUEZ paves the way for the creation of a global champion of ecological transformation with €37bn in revenues and a stronger international footprint in fast-growing markets. The solution reached also accelerates the ongoing work to obtain all necessary antitrust authorization which was initiated as soon as Veolia first launched its offer.

 

The agreement on the future of a “new SUEZ” in France is both a boost for customers, local authorities and public authorities, as well as the merger process. The new group will ensure competition in France, with revenues of around €7 billion and majority long-term French investors in Meridiam and Caisse des Dépôts, who have already committed to preserve job security for a minimum of four years for SUEZ employees. The agreement on SUEZ France should also have a positive impact on the antitrust approval timeline with the European Commission.

 

Internationally, Veolia and SUEZ have highly complementary global footprints – a key driver behind the deal – and Veolia has been diligently working to secure relevant approvals. Veolia identified all potential issues in advance and, where necessary, proposed a resolution in the form of very limited asset divestments.

 

Thanks to these efforts, Veolia has already secured pre-approval in over a fourth of the geographies filed to date, most recently receiving Phase 1 approval from the US competition authority.

 

As a result of the significant progress to date, accelerated by the agreement with SUEZ, Veolia expects the public offer to be finalised by the autumn.