Antitrust Remedies in the United Kingdom: Veolia Completes £2 Billion Sale of Waste Business
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
PARIS--(BUSINESS WIRE)--
Regulatory News:
Veolia (Paris:VIE) announces the completion of the sale to Suez of 100% of the share capital of Suez Recycling and Recovery UK Group Holdings Ltd. under antitrust remedies agreed with the UK Competition and Markets Authority (CMA). The divested entity includes the former waste activities of Suez in the United Kingdom.
The sale proceeds amount to £2 billion and represent an attractive valuation of 16.9 times 2021 normalised EBITDA. It will bring the combined value of the antitrust divestments to around €3.4 billion and will significantly reduce the Group's debt by providing it with additional investment capacity.
Upon completion of this transaction, Veolia will remain the leading player in the UK solid waste management market with revenues of approximately £1.8 billion.
***
About Veolia
Veolia Group aims to become the benchmark company for ecological transformation. Present on five continents with nearly 220,000 employees, the Group designs and deploys useful, practical solutions for the management of water, waste and energy that are contributing to a radical turnaround of the current situation. Through its three complementary activities, Veolia helps to develop access to resources, to preserve available resources and to renew them. In 2021, the Veolia group provided 79 million inhabitants with drinking water and 61 million with sanitation, produced nearly 48 million megawatt hours and recovered 48 million tonnes of waste. Veolia Environnement (Paris Euronext: VIE) achieved consolidated revenue of 28.508 billion euros in 2021. www.veolia.com
An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
