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Veolia Agrees to Sell Suez’s UK Waste Unit for $2.4 Billion

  • French utility is offloading unit to ease antitrust concerns
  • It will divest Suez Recycling & Recovery UK to Macquarie Group
Veolia Environnement SA And Suez SA Sites Ahead of Takeover Battle Deadline
Photographer: Nathan Laine/Bloomberg
Updated on

Veolia Environnement SA agreed to sell Suez SA’s waste activities in Britain to Macquarie Group Ltd. for 2.4 billion euros ($2.44 billion) after the country’s antitrust authority raised competition concerns.

Veolia’s announcement, confirming an earlier Bloomberg News report, marks the last step in its acquisition of a large chunk of French rival Suez, which was completed in other parts of the world earlier this year. Demand is growing for water and waste-treatment and recycling services as governments around the globe bring in more stringent rules to fight pollution.