Veolia in €2.5 Billion Rights Offering to Finance Suez Acquisition

September 16, 2021

Cleary Gottlieb is representing Veolia Environnement (Veolia) in a €2.5 billion rights offering that launched on September 16, 2021, and is expected to close on October 8, 2021.

The rights offering is part of the financing of Veolia’s €9 billion tender offer for Suez on which Cleary is also advising.

The rights offering includes a public offering in France and an international institutional offering, including a Rule 144A placement in the United States. It is being underwritten by a syndicate of banks, including BofA Securities Europe SA, BNP Paribas, Crédit Agricole Corporate and Investment Bank, Deutsche Bank Aktiengesellschaft, HSBC Continental Europe, and Morgan Stanley Europe SE acting as joint global coordinators and joint bookrunners. Barclays Bank PLC, Citigroup Global Markets Inc., Credit Suisse Securities Europe Ltd, Joh. Berenberg, Gossel & Co. KG, Mizuho International PLC, and Natixis are acting as joint bookrunners.