Suez SA acquired 100% stake in Suez Recycling And Recovery Uk Group Holdings Ltd from Veolia Environnement S.A. (ENXTPA:VIE) for €2.26 million on December 5, 2022. The transaction is approved by UK Competition and Markets Authority (CMA). The sale proceeds amount to £2 billion and represent an attractive valuation of 16.9 times 2021 normalised EBITDA. It will significantly reduce the Group's debt by providing it with additional investment capacity. This acquisition brings around 6,000 employees into the SUEZ workforce. The business they operate generates an annual turnover of more than £900 million. Pierre-Yves Chabert and Rodolphe Elineau of Cleary Gottlieb Steen & Hamilton LLP (France) acted as legal advisor to Veolia Environnement S.A. (ENXTPA:VIE). Benjamin de Blegiers, Sue Palmer, Marine Jamain and Benjamin Saada of Clifford Chance France and Charlotte Madden, Shimin Lee and Ivo Basoski of Clifford Chance LLP acted as legal advisor to Suez SA. Linklaters LLP acted as legal advisor to Suez SA and advised on regulatory and competition law aspects. Jannan Crozier of Baker & McKenzie LLP acted as legal advisor to management of Suez Recycling and Recovery UK Group Holdings Ltd.

Suez SA completed the acquisition of 100% stake in Suez Recycling And Recovery Uk Group Holdings Ltd from Veolia Environnement S.A. (ENXTPA:VIE) on December 5, 2022.