It's a very nice move by Sabrina Soussan, the CEO of Suez.
The environmental specialist buys Veolia its former waste management activity in the United Kingdom for 2 billion pounds sterling (2.3 billion euros).
It recovers 1 billion euros of additional turnover and 6000 employees.
It was the British competition authorities who forced Veolia to sell this activity, which fell into its hands during its takeover bid for Suez.
The group had found a buyer with the Macquarie investment fund.
But the new Suez, made up of assets not taken over by Veolia, had the possibility of matching the price offered by the Australian fund.
What he did.
“Since the birth of the new Suez, last March, this is our third acquisition,
welcomes Sabrina Soussan.
They have enabled our annual turnover to increase from 7.5 billion to 9 billion euros.”
The group took over hazardous waste activities in France, already with Veolia, and took control of the South African EnviroServ, in municipal and industrial waste.
The group now has 44,000 employees, when they were only 35,000 in February.
“The new Suez now displays a balance between its activities in water and waste, and carries out 40% of its activity internationally”
, specifies the manager.
These movements show that the ambitions of the shareholders of Suez, the Meridiam and GIP infrastructure funds, and the Caisse des dépôts et consignations, are there.
“This operation will be mainly financed by a capital increase, to which all of our shareholders have planned to subscribe”
, confirms Sabrina Soussan.
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