Veolia Must Sell Three U.K. Businesses Due to Competition Issues
25 August 2022 - 8:56AM
Dow Jones News
By Sarah Sloat
Veolia Environnement SA must sell three of its businesses in the
U.K. because of competition concerns related to its merger with
Suez, the U.K. antitrust watchdog said Thursday following an
investigation.
The Competition and Markets Authority decided that French
utility Veolia must sell large parts of the merged business,
including Suez's U.K. waste-management services businesses; Suez's
U.K. industrial water operation and maintenance services business;
and Veolia's European mobile water services business. These
comprise almost all of the overlap between Veolia's and Suez's
competing U.K. operations, CMA said.
The decision is aimed at protecting councils and businesses from
likely higher prices and lower-quality services, according to the
CMA.
Prior to the merger, Veolia and Suez were two of the largest
suppliers of waste-management services in the U.K.
Earlier this month, Veolia said it would sell Suez's U.K. waste
business to Macquarie Group Ltd. for about $2.4 billion. It
received approval for its takeover of Suez from the European
Commission in late last year.
Write to Sarah Sloat at sarah.sloat@wsj.com
(END) Dow Jones Newswires
August 25, 2022 02:41 ET (06:41 GMT)
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