Veolia to Sell Vigie’s UK Waste Business to Suez
August 8, 2022
Cleary Gottlieb is representing Veolia Environnement (Veolia), the global leader in environmental services, in its sale of Vigie’s (formerly Suez) UK waste business to Suez, following Suez’s exercise of its right of first refusal in respect of Vigie’s UK waste business.
Veolia and Suez have signed a unilateral put option agreement under which Suez irrevocably undertakes to acquire 100% of the share capital of Suez Recycling and Recovery UK Group Holdings Ltd. The sale proceeds will be approximately £2 billion.
Suez’s exercise of its first refusal follows Veolia’s announcement made on August 8, 2022, of the put option agreement entered into with Macquarie relating to the sale of Vigie’s UK waste business.
The completion of the transaction is subject to CMA approval.