Cleary Gottlieb represented Veolia Environnement (Veolia), the global leader in environmental services, in its potential €190 million sale of its mobile water services businesses in Europe to Saur.
This transaction is one of the remedies that was approved by the European Commission in order to preserve competition in environmental services following the combination of Veolia and Suez.
Saur granted to Veolia a put option agreement pursuant to which Veolia may, subject to the completion of its relevant works councils consultations, sell to Saur its mobile water services businesses in Europe. The transaction remains subject to regulatory approvals.
Saur is an integrated water pure player providing services to local authorities and industrial customers.