A PYMNTS Company

Veolia, Suez Offer EU Remedies to Push Through Deal

By  |  November 24, 2021

French waste and water management companies Veolia and Suez have offered remedies in a bid to secure EU antitrust approval for their tie-up, a European Commission filing showed on Wednesday.

The EU competition enforcer, which did not provide details of the package in line with its policy, extended its deadline for a decision to Dec. 14. It will seek feedback from rivals and customers before deciding whether to accept the offer or demand more.

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

The companies have previously said they would spin off Suez’s French water activities and some international assets – including in Italy, the Czech Republic, India and Australia – into a new entity called New Suez to address competition concerns.

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