A PYMNTS Company

French Veolia In $15.5B Deal To Create Waste-Management Giant

By  |  April 12, 2021

France’s Veolia reached a $15.5 billion deal to acquire Suez, creating a water and waste-management giant that aims to soak up a global surge in infrastructure and climate-change spending, reported The Wall Street Journal.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The companies turned the page on months of acrimony and legal battles Monday, April 12, striking a preliminary agreement for Veolia to purchase Suez shares for €20.50 apiece, compared with an initial offer of €15.50. The combined entity would generate annual revenue of €37 billion, equivalent to US$44 billion, across five continents.

    The deal comes at a time when governments world-wide are boosting spending on infrastructure as part of efforts to recover from the pandemic and overhaul their economies to meet commitments under the Paris climate accord.

    President Biden this month unveiled a US$1.52 trillion budget outline focused on climate change and infrastructure. The European Union in July last year agreed on a €750 billion recovery fund designed to spark an industrial transformation centered on a European Green Deal.

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.