Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

EU regulators to decide on Veolia-Suez merger by Nov. 30

Published 25/10/2021, 11:32
Updated 25/10/2021, 11:35
© Reuters. FILE PHOTO: Employees of Suez demonstrate in front of Engie headquarters at La Defense business and financial district in Courbevoie near Paris, France, September 22, 2020. REUTERS/Charles Platiau/File Photo

BRUSSELS (Reuters) - EU antitrust regulators will decide by Nov. 30 whether to clear the merger of French waste and water management companies Veolia and Suez, a European Commission filing showed on Monday.

The companies, which announced their planned tie-up in April, sought EU approval for the close to 13 billion euro ($15 billion) deal on Oct. 22.

The EU competition enforcer can either approve the deal with or without concessions or it can open a four-month investigation if it has serious concerns.

In an effort to address potential regulatory concerns, the companies have said they will 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.

Meridiam, Ardian and Global Infrastructure Partners, as well as state-backed Caisse des Depots and employees, will be the main shareholders of New Suez.

($1 = 0.8593 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.