Deal Announcement - Energy & Utilities - Meridiam New Suez

IMAP France advises global infrastructure investor Meridiam on the acquisition of a stake in “new Suez”. IMAP is pleased to announce the completion of operations resulting in the formation of the “new Suez”, and subsequent acquisition of a stake in the company by Meridiam, Groupe Caisse des Dépôts, and GIP. This is Degroof Petercam – IMAP France’s largest M&A transaction ever closed and demonstrates the firm’s ability to bring together some thirty professionals across all investment banking segments (mergers and acquisitions, financing advisory, debt and equity capital markets), to support its customers on complex transactions.

In June 2021, a consortium comprising Meridiam, Groupe Caisse des Dépôts, and GIP, announced an agreement with Suez and Veolia to become the longterm shareholders of the “new Suez”. The transaction closed in January 2022 with conditions approved by the European Commission to preserve competition in environmental services following the merger of Veolia and Suez. The new Suez includes Suez’s water, recycling and recovery activities in France, international assets in Italy, Central Europe, Africa including Morocco, Central Asia, India, China, and Australia, as well as its global digital and environmental activities. With a workforce of 35,000 employees, its operations generate revenues of around €7 billion.

Cyril Kammoun, CEO of Degroof Petercam Investment Banking France, commented: “Completion of the new Suez operation in early 2022, alongside Meridiam and the consortium formed with GIP and Groupe Caisse des Dépôts, is an emblematic illustration of our growth dynamic, establishing our position on strategic large-scale client transactions.”

Franck Silvent, Managing Partner in charge of the transaction, shared: “The completion of this operation is a great source of satisfaction. It demonstrates our ability to play a key advisory role in what was a complex and multifaceted transaction. We are proud to have supported Meridiam in this major operation, they are unequalled in their entrepreneurial success, performance excellence
and societal values.”