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

EU regulators to decide on Veolia-Suez merger by Nov. 30
EU regulators to decide on Veolia-Suez merger by Nov. 30   -   Copyright  Thomson Reuters 2021
By Reuters

BRUSSELS – 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)