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Veolia Gains After Winning European Approval for Suez Takeover

  • EU decision requires utility to make some further divestments
  • Shares are at 13-year high after adding more than 60% in 2021
A logo outside the Suez SA waste recycling and waste management site in the Gennevilliers district in Paris, France, on Tuesday, May 11, 2021. V

A logo outside the Suez SA waste recycling and waste management site in the Gennevilliers district in Paris, France, on Tuesday, May 11, 2021. V

Photographer: Nathan Laine/Bloomberg

Veolia Environnement SA rose to a 13-year high in Paris trading after winning conditional approval from the European Union to acquire French rival Suez SA.

The EU’s decision, announced Tuesday, paves the way for the creation of a global giant in environmental services with about 37 billion euros ($42 billion) in annual revenue.