(Boursier.com) — Veolia and Dried Environment announce the signing of a unilateral purchase agreement under which Séché Environnement has undertaken to acquire Veolia’s activities in industrial water treatment services in France, which constitute the last part of the antitrust remedies required by the Commission competition policy in the context of the merger between Veolia and Suez. The amount of the sale of the transferred assets amounts to approximately 40 million euros and will be financed from Séché Environnement’s available cash.
“This agreement marks the implementation of the last part of the disposals requested by the European Commission within the framework of the merger with Suez. The total amount of the disposals in progress amounts to around 920 million euros. high quality assets and strong competitive momentum in the environmental services sector in France,” said Claude Laruelle, Deputy Chief Executive Officer in charge of Finance at Veolia.
The assets sold include a portfolio of contracts entered into with manufacturers, representing annual revenue of around €60 million for an EBITDA of around €4 million. These contracts include all of the businesses in the industrial water cycle (in particular effluent treatment, supply of process water, facility management – including waste management – and maintenance operations), allowing to offer industrialists high value-added services in terms of delegated management of the water cycle.
For Maxime Séché, Managing Director of Séché Environnement: “the acquisition of part of the delegated industrial water management activities of Veolia in France is a perfect complement to our industrial effluent management businesses and will enrich the outsourcing offer offered by Séché Environnement as part of its Global Offers to leading industrial customers. The new entity thus formed will give our Group a major position in a recurring and high-potential market.”
The operation will be carried out in compliance with the social commitments made by Veolia and fully confirmed by Séché Environnement. These include guaranteed employment and continued benefits for a period of 4 years.
It is subject to consultation with Veolia employee representative bodies, as well as obtaining the necessary regulatory authorizations.
Following the transaction, Veolia will remain a major player in the industrial water segment in Europe. Séché Environnement is consolidating, in France, its position as a key player in the service of manufacturers in these businesses.
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