Séché Environnement SA signed an agreement to acquire A Part of Industrial Water Treatment Services Business of Veolia Environnement S.A. in France from Veolia Environnement S.A. for €40 million.

Séché Environnement SA (ENXTPA:SCHP) signed an agreement to acquire A Part of Industrial Water Treatment Services Business of Veolia Environnement S.A. in France from Veolia Environnement S.A. (ENXTPA:VIE) for €40 million on May 24, 2022. The deal is a part of antitrust remedies required by the European Commission in the context of the merger between Veolia and Suez. The deal will be financed with Séché Environnement's available cash flow.

The deal is subject to consultation with Veolia's employee representative bodies and to obtaining the necessary regulatory authorizations. The transaction is expected to take place at the end of 2022. Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor to Veolia Environnement S.A. (ENXTPA:VIE).