Merger Update: Veolia/Suez

Merger reference decision announced:

On 7 December 2021, the CMA decided that it was or may be the case that the following Merger has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.

Completed acquisition by Veolia Environnement S.A. of a minority shareholding in Suez S.A. and anticipated public takeover bid by Veolia Environnement S.A. for the remaining share capital of Suez S.A.

Pursuant to section 73A(1) of the Act, Acquirer had until 14 December 2021 to offer an undertaking to the CMA that might be accepted by the CMA under section 73(2) of the Enterprise Act 2004 (the Act). On 14 December 2021 the Acquirer informed the CMA that it would not be offering any undertakings. The CMA has therefore decided to refer this Merger for a phase 2 investigation pursuant to sections 33(1) and 34ZA(2) of the Act.

The text of this decision will be placed on the Competition and Markets Authority's website at https://www.gov.uk/cma-cases as soon as is reasonably practicable.

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