Cleary Gottlieb represented Veolia Environnement (Veolia), the global leader in environmental services, in its possible €690 million sale of certain hazardous waste assets in France to Suez (also known as New Suez) a company owned by Meridiam (40%), Global Infrastructure Partners (40%), French Caisse des dépôts et consignations (12%), and CNP Assurances (8%).
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.
Suez granted to Veolia a put option agreement pursuant to which Veolia may, subject to the completion of its relevant works councils consultations, sell to Suez certain hazardous waste assets in France. The transaction remains subject to regulatory approvals.