Veolia announces that its subsidiary Veolia North America has signed an agreement for the divestment of Veolia North America Regeneration Services, which includes its sulfuric acid and hydrofluoric acid regeneration activities for refineries, to private equity firm American Industrial Partners for an enterprise value of USD 620 million. These activities represented revenues of around USD 350 million in 2023. The financial closure of the transaction is expected in the coming days.
“This disposal is in line with our policy of continuously reshaping our portfolio of assets in line with the strategic priorities of our GreenUp plan whilst maintaining a strict balance sheet discipline. The sulfuric acid regeneration business in the United States is not one of our key priorities and does not offer synergies with our core activities. Their disposal will enable us to create value and concentrate our investments on the ‘boosters’ of the GreenUp strategic plan,” said Estelle Brachlianoff, Veolia's Chief Executive Officer.
