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.