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Suez in the UK remains with Suez

Photo: Gary Perkin / Shutterstock.com

Suez Recycling and Recovery UK (SRRUK) is buying Suez’s former waste activities in the United Kingdom from Veolia for £2 billion (EUR 2.3 billion).

This follows the intervention of the UK regulator, the Competition and Markets Authority (CMA), which blocked the merger of Veolia and Suez in the UK because of concern competition would be reduced, particularly in contracts with local authorities.
The CMA accepted the overall merger only if British elements of the international group were retained in a continuing Suez company which now wants to buy SRRUK, subject to the CMA approval. Suez Group had first refusal on the UK assets so it has now matched a rival bid by Macquarie.

Suez Group ceo Sabrina Soussan says: ‘The acquisition of SRRUK will significantly bolster the strategy of Suez, strengthening our waste treatment activities and diversifying our global footprint. This acquisition highlights once again the trust our shareholders place in our company. Our group has the capital required for its development as well as the necessary resources to invest alongside its clients.’

John Scanlon, chief executive of SRRUK, adds: ‘Suez Group has now triggered the right of first refusal, which was part of the merger agreement between the Veolia and Suez groups made back in January 2022, and started the process of matching the offer made by Macquarie.’

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