Saur SAS completed the acquisition of European Mobile Water Services business from Veolia Environnement S.A..
November 29, 2022
Share
Saur SAS signed an agreement to acquire European Mobile Water Services business from Veolia Environnement S.A. (ENXTPA:VIE) for approximately 190 million on May 9, 2022. The deal is a part of the commitments made by Veolia to address the European Commission's competition concerns. This transaction is subject to the completion of consultations with Veolia's employee representative bodies, as well as to obtaining the necessary regulatory approvals and the lifting of conditions precedent. The transaction is expected to close before year-end. Jacques-Philippe Gunther, Pierre-Louis Clero, Matthias Rubner and Cécile Mariotti of Latham & Watkins LLP (Paris) acted as legal advisors to Saur SAS. Philippe Schmitt, Evan Yellin, Jonathan Lee and Vedran Majstorovic of EC Mergers & Acquisitions acted as the financial advisors to Veolia Environnement S.A. Pierre-Yves Chabert, Anne-Sophie Coustel, Rodolphe Elineau, Séverine Schrameck and Saverio Valentino of Cleary Gottlieb Steen & Hamilton LLP (France) acted as legal advisors to Veolia Environnement S.A. Bernard Spoor, Henk van Ravenhorst of De Brauw Blackstone Westbroek N.V. acted as legal advisor to Veolia Environnement S.A. De Brauw acted as Dutch counsel alongside Cleary Gottlieb.
Saur SAS completed the acquisition of European Mobile Water Services business from Veolia Environnement S.A. (ENXTPA:VIE) on November 30, 2022. Ulrich Ziche, Maria Schultzberg and Julia Hagelberg of Advokatfirman Vinge KB acted legal advisor to Saur.
Veolia Environnement is the world leader in environmental management services. Net sales break down by activity as follows:
- water-related services (40.6%; No. 1 worldwide): water resources management, drinking water distribution and delivery, wastewater collection, treatment and recovery, engineering, design, construction of water treatment facilities and customer relationship management, etc.;
- waste management services (32.4%; no. 1 worldwide): collection, treatment and recycling of liquid, solid, non-hazardous and hazardous waste, waste treatment and recovery through composting, energy recovery from waste, etc. Veolia Environnement also provides urban waste management services (maintenance and cleaning of public spaces, provision of mechanized street cleaning and façade treatment services), maintenance of industrial sites, and dismantling of industrial facilities and equipment at the end of their useful life;
- energy services (27%; No. 1 in Europe): delegated management of urban heating and air conditioning networks, management of thermal and multi-technique services (operation of heating systems, facility design, construction, and maintenance, etc.) and industrial services (industrial process analysis, production equipment operation, service, and maintenance), general management of buildings and public lighting.
Net sales are distributed geographically as follows: France (21.5%), Europe (41.9%), North America (7.4%), Asia (5.6%), Africa and the Middle East (4.9%), Pacific (4.3%), Latin America (4%) and other (10.4%).