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EU regulators okay with conditions $14.7 billion Veolia, Suez deal -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Suez’s logo can be seen at the headquarters of La Defense, a financial district located in Courbevoie close to Paris. It was there on April 12, 2021. REUTERS/Gonzalo Fuentes/File Photo

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BRUSSELS – EU antitrust regulators have cleared Tuesday the 13 billion-euro ($14.70billion) merger of Veolia and rival Suez. This was contingent on sales by both companies to address concerns about competition.

Reuters exclusive reported that last week’s deal received the EU approval after minor adjustments by the companies.

All concerns were addressed by the European Commission through a wide range of asset sales.

Companies propose a number of solutions, such as converting Suez’s French water- and waste-related activities and other international assets to a new company called “New Suez”, whose shareholders are Meridiam, Global Infrastructure Partners and the state-backed Caisse des Depots.

($1 = 0.8843 euros)

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