Veolia announces an agreement to sell the activities of its subsidiary SADE to NGE

Veolia announces the signature of an agreement for the acquisition by NGE, an independent public works group, of SADE-CGTH, its wholly-owned subsidiary specializing in the construction and rehabilitation of water and infrastructure networks. The amount of the sale, in terms of enterprise value, amounts to 260 million euros.

"We are very satisfied with this transaction, which is part of the regular strategic review of our asset portfolio. It is being carried out on very good terms, which will strengthen Veolia's capacity to invest in its strategic activities," said Estelle Brachlianoff, Veolia's Chief Executive Officer.  

SADE's activities are focused on civil engineering works and network construction, mainly in the water sector and represent annual revenue of around €1.1 billion in 2022 and a workforce of around 6,900.

The agreement is embodied in a unilateral promise to purchase that will enable the parties to finalize the transaction, which remains subject to consultation with employee representative bodies and to obtaining the necessary regulatory approvals.

About Veolia
Veolia Group aims to become the benchmark company for ecological transformation. Present on five continents with nearly 213,000 employees, the Group designs and deploys useful, practical solutions for the management of water, waste and energy that are contributing to a radical turnaround of the current situation. Through its three complementary activities, Veolia helps to develop access to resources, to preserve available resources and to renew them. In 2022, the Veolia group provided 111 million inhabitants with drinking water and 97 million with sanitation, produced 44 terawatt hours of energy and recovered 61 million tonnes of waste. Veolia Environnement (Paris Euronext: VIE) achieved consolidated revenue of 42 885 million euros in 2022. www.veolia.com