Veolia Announces an Agreement to Sell Suezs1 UK Waste Business to Macquarie for €2.4bn
Summary
Following completion of this antitrust remedy, Veolia will remain a major player in the UK waste management market with revenues of approximately €2 billion. The valuation level of the sale, showing a multiple of 16.9x normalized EBITDA 2021, is significantly higher than the acquisition price resulting from the takeover bid. "We are very satisfied with this transaction, which is being carried out under excellent conditions that once again demonstrate the attractiveness of the environmental services business and the relevance of our proposal for remedies to the CMA. With nearly 220,000 employees worldwide, the Group designs and deploys game-changing solutions that are both useful and practical for water, waste and energy management. Investors and security holders may obtain from Veolia Environnement a free copy of documents it filed (www.veolia.com) with the Autorités des Marchés Financiers.