Cleary Gottlieb represented Veolia Environnement (Veolia), the global leader in environmental services, in its potential c. €40 million sale of part of its industrial water services businesses in France to Séché Environnement.
This transaction follows the previously announced sales by Veolia of its European mobile water services business and of hazardous waste assets in France, all of which constitute the remedies that were approved by the European Commission in order to preserve competition in environmental services following the combination of Veolia and Suez.
Séché Environnement granted to Veolia a put option agreement pursuant to which Veolia may, subject to the completion of its relevant works councils consultations, sell to Séché Environnement part of its industrial water services businesses in France. The transaction remains subject to regulatory approvals.
Séché Environnement is a French leader in the recovery and treatment of all types of waste for industrial customers and local authorities.