190-Million-Euro Deal Veolia Divests European Mobile Water Services Business to Saur
Saur will acquire Veolia's mobile water services business in Europe for 190-million-euros under an agreement signed between both the firms. The deal is a part of the antitrust remedies required by the European Commission.
Aubervilliers/France – Saur and Veolia have signed a unilateral put agreement under which Saur has committed to acquire Veolia's mobile water services business in Europe, which is part of the antitrust remedies required by the European Commission. The value of the sale of the assets amounts to approximately 190 million Euros.
This transaction is subject to the completion of consultations with Veolia's employee representative bodies, as well as to obtaining the necessary regulatory approvals and the lifting of conditions precedent.
"We are pleased of this important step related to the third phase of the divestitures in line with our commitments to the European Commission regarding competition, progressing on schedule, which confirms the attractiveness of the assets we offered to divest," said Claude Laruelle, Chief Financial Officer. "The transaction will be implemented in line with the social commitments announced by Veolia."
Following this transaction, Veolia will remain one of the major players in the water mobile market, notably in Europe, through the integration of ex-Suez’ assets and with the continuous growth of its historical assets in the Middle East, Asia-Pacific and North and South America.