PARIS--(BUSINESS WIRE)--Regulatory News:
Today, Veolia (Paris:VIE) has announced that following the authorization granted by Autorité de la concurrence (The French Competition Authority), its subsidiary SARP has closed its acquisition of Suez RV OSIS, a subsidiary of the Suez Group. OSIS specializes in the maintenance of sanitation networks and structures and in industrial maintenance and cleaning services, and their expertise and skills will complement those of SARP.
Through its subsidiary SARP, Veolia has access to considerable know-how concerning sanitation and industrial maintenance in France. The merger of SARP and OSIS will enable the Veolia Group to position itself as a major player in this area, and due to the complementary nature of the two entities, will enable them to offer new, high added value services to their public, tertiary and industrial customers, covering the whole of France. The new entity will have 6,700 employees and revenue of about €750 million.
The Autorité de la concurrence gave this acquisition the green light on April 28, 2021, subject to the sale by SARP of 8 branches of OSIS, most of them located in the Ile-de-France region.
Veolia group aims to be the benchmark company for ecological transformation. With nearly 179,000 employees worldwide, the Group designs and provides game-changing solutions that are both useful and practical for water, waste and energy management. Through its three complementary business activities, Veolia helps to develop access to resources, preserve available resources, and replenish them. In 2020, the Veolia group supplied 95 million people with drinking water and 62 million people with wastewater service, produced nearly 43 million megawatt hours of energy and treated 47 million metric tons of waste. Veolia Environnement (listed on Paris Euronext: VIE) recorded consolidated revenue of €26.010 billion in 2020. www.veolia.com