Bpifrance, the public investment bank, along with its French sovereign wealth fund Lac1, has announced an €800 million investment in Veolia, a global leader in ecological transformation. This move is part of a shareholder agreement, and as a result, Bpifrance will appoint a representative to Veolia’s Board of Directors. The proposed representative, subject to approval at the next General Meeting of Veolia shareholders, will also serve on the Accounts and Audit Committee and the Research, Innovation, and Sustainable Development Committee.
With this investment, Bpifrance and the Lac1 fund are demonstrating their confidence in Veolia’s potential for profitable growth, its governance framework, and its innovative capabilities. The company’s unique positioning in both the French and global markets, focused on serving local communities, aligns with the long-term goals of the investors. The transaction is expected to enhance resilience and competitiveness across territories and industries, particularly in the face of climate change.
Veolia’s strategic direction aligns with the investment objectives of the Lac1 fund, which is managed on behalf of both French and international investors. Bpifrance’s mission is to provide long-term support for leading French companies with high value-creation potential, particularly those addressing contemporary global challenges.
Nicolas Dufourcq, Chief Executive Officer of Bpifrance, stated: “We are proud to invest in Veolia, a leading French company and global champion of ecological transformation, with our Lac1 fund. Bpifrance intends to make a long-term commitment to the Group, convinced by its prospects for sustainable value creation and its role in meeting current environmental challenges on a global scale.”
Estelle Brachlianoff, Veolia’s Chief Executive Officer, commented: “We are delighted to welcome Bpifrance as a strategic shareholder for the Group and as a member of its Board of Directors. This new long-term shareholder is aligned with the Group’s vision, mission and ethics, contributing to its growth in a sustainable way for the benefit of territories and industries. This transaction strengthens our shareholder base and will support sustainable value creation.”
Bpifrance Participations and the Lac1 fund will acquire shares gradually through market transactions and have expressed their commitment to supporting Veolia’s long-term growth.
