(CercleFinance.com) – The European Commission has approved the acquisition of joint control of the Hazardous Waste Activity of the former Suez group, based in France, by the companies Meridiam SAS (‘Meridiam’), based in France, and Global Infrastructure Management LLC (‘GIP’), based in the United States.
The Hazardous Waste Activity consists of assets in the field of landfilling, incineration and physico-chemical treatment of hazardous waste in France.
These assets were previously acquired by Veolia during the acquisition of the former Suez group, but they are subject to a separation obligation.
Meridiam and GIP are both investment funds active in the energy and environment sectors.
The Commission concluded that the proposed concentration would not raise competition concerns, given its very limited impact on the structure of the market, as well as the fact that the new entity would have neither the ability nor the incentive to foreclose access to incinerated waste and hazardous waste outlets.