Veolia announces the closing of the acquisition by NGE, an independent public works group, of SADE-CGTH, its wholly-owned subsidiary that specialises in the construction and rehabilitation of water and infrastructure networks. The sale represents an enterprise value of 260 million euros.
"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 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.
