SUEZ IN EXCLUSIVE NEGOTIATIONS FOR THE SALE OF OSIS
SUEZ announced today it has entered into an exclusive agreement with Veolia for
the sale of French subsidiary OSIS, multi-specialist in sewerage services. The
agreement secures a solid future for OSIS business. The transaction, which is
binding subject to regulatory approval and customary closing conditions
including the consultation of employee representative bodies, is expected to be
completed in the first half 2021.
With 2,500 employees located in over 130 local service centres in France, OSIS
operates complementary business segments: sewerage and liquid waste collection,
industrial cleaning and building hygiene. Over a century of experience, OSIS
has developed strong expertise and specialized equipment to serve its
diversified portfolio of customers, from corporates to local authorities and
individuals. In 2019, OSIS made c.EUR 311 million revenue and c. EUR 23 million
EBITDA on a pro forma adjusted basis.
The transaction is the first major announcement concerning SUEZ's asset
rotation program intended to align our activities around our Shaping SUEZ 2030
strategy. The contemplated sale values the business transferred at c.EUR 298
million, representing a multiple of c.13 times 2019 pro forma adjusted
SUEZ was advised by DC Advisory and Racine.
Bertrand CAMUS, CEO of SUEZ commented: "We are pleased to announce the proposed
sale of OSIS for a value that recognizes the human and technical asset
developed in the company. We believe that we have found a very good home for
the business and its employees for the next phase of its development. The
transaction reflects the quality of the businesses within SUEZ, including those
which are part of our asset rotation plan."
Since the end of the 19th century, SUEZ has built expertise aimed at helping
people to constantly improve their quality of life by protecting their health
and supporting economic growth. With an active presence on five continents,
SUEZ and its 90,000 employees strive to preserve our environment's natural
capital: water, soil, and air. SUEZ provides innovative and resilient solutions
in water management, waste recovery, site remediation and air treatment,
optimizing municipalities' and industries' resource management through "smart"
cities and improving their environmental and economic performance. The Group
delivers sanitation services to 64 million people and produces 7.1 billion m3
of drinking water. SUEZ is also a contributor to economic growth, with more
than 200,000 jobs created directly and indirectly on an annual basis, and a
provider of new resources, with 4.2 million tons of secondary raw materials
produced. By 2030, the Group is targeting 100% sustainable solutions, with a
positive impact on our environment, health and climate. SUEZ generated total
revenue of EUR18.0 billion in 2019.
Find out more about the SUEZ Group on the website & on social media
Twitter, Linkedin, Youtube, Instagram
Head Office: Tour CB21 - 16, Place de l'Iris, 92040 Paris La Défense Cedex,
France - Tel: +33 (0)1 58 81 20 00 - www.suez.com
Limited Liability Company with a share capital of EUR2,513,450,316 - Siren
(French business administration number) 433 466 570 RCS Nanterre -
VAT FR 76433 466 570