Veolia Announces Acquisition Closing by NGE of SADE-CGTH
Veolia Announces Acquisition Closing by NGE of SADE-CGTH
Veolia (Paris:VIE) has officially closed the sale of its wholly-owned subsidiary, SADE-CGTH, to NGE, an independent public works group. The acquisition, valued at 260 million euros, marks a significant milestone for both companies.
CEO Satisfaction
"We are fully satisfied with the completion of this sale, which follows the completion of consultations with employee representatives bodies and the obtaining of the necessary regulatory approvals. We are reassured about the industrial future offered by the takeover by NGE, a recognised player in the public works sector. This disposal is part of the regular review of our asset portfolio, as construction activities are no longer part of the Group's strategic business lines," said Estelle Brachlianoff, CEO of Veolia.
SADE's Focus
SADE's activities are focused on civil engineering works and network construction, mainly in the water sector, representing annual revenue of around EUR1.1 billion in 2022 and a workforce of around 6,900.
About Veolia
Veolia: Leading the Way in Ecological Transformation
As a global leader in ecological transformation, Veolia Group is dedicated to providing innovative solutions for water, waste, and energy management. With a presence on five continents and over 218,000 employees, Veolia is committed to driving a radical change in our current environmental landscape.
Mission and Impact
Veolia's three core activities focus on developing access to resources, preserving available resources, and renewing them for future generations. In 2023 alone, the group provided drinking water to 113 million people and sanitation services to 103 million. Additionally, Veolia produced 42 million megawatt hours of energy and treated 63 million tonnes of waste.
Achievements and Revenue
Veolia Environnement (Paris Euronext: VIE) reported a consolidated revenue of 45,351 million euros in 2023, solidifying its position as a key player in the industry. By delivering practical and sustainable solutions, Veolia continues to make a significant impact on a global scale.
For more information, visit Veolia's official website.
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