Séché Environnement has committed to acquire a part of Veolia's (OTCPK:VEOEY -1.5%) industrial water treatment services business in France, which constitutes the remaining part of the antitrust remedies required by the European Commission in the context of the merger between Veolia and Suez.
The assets disposal includes a portfolio of contracts with industrial companies, generating annual revenues of around €60M and EBITDA of around €4M.
Company will remain a major player in the industrial water segment in Europe.
Séché Environnement is strengthening its position in France as a key player in serving industrial clients for such activities.
- "This agreement marks the implementation of the last part of the antitrust remedies requested by the European Commission in the context of the merger with Suez. The total amount of the disposals currently being carried out amounts to approximately €920 million. This demonstrates the high quality of the assets and the strong competitive momentum of the environmental services sector in France," said Claude Laruelle, CFO.