Veolia Environnement S.A - Suez S.A.


  • Veolia Environnement S.A


  • Suez S.A.


On 5 October 2020, Veolia Environnement S.A (Veolia) acquired a 29.9% interest in Suez S.A. (Suez). Veolia proposes to acquire the remaining shares in Suez that it does not already own.

In Australia, Veolia supplies water management, waste management and energy solutions. Suez's Australian operations include water management and technology, waste management and resource recovery services.

The ACCC commenced its public review in February 2021. In April 2021, Veolia advised that the terms of the transaction were to change and the ACCC suspended its review pending confirmation of the revised transaction.

On 14 May 2021, Veolia advised the ACCC of a revised transaction with substantial changes to the assets being ultimately acquired. The ACCC commenced the review of the revised transaction, once the merger parties had provided information about the revised transaction, on 12 July 2021. While elements of the transaction remain the same, these changes necessitate further market inquiries and the provision of further information by the merger parties, and a commensurate review period before the ACCC’s proposed decision date.

Veolia now proposes to ultimately acquire Suez’s Australian waste business, with the exception of the following Sydney post-collection assets:*

  • Lucas Heights and Kemps Creek landfills; and
  • Auburn, Artarmon, Belrose, Rockdale and Ryde transfer stations.

Veolia would also acquire Suez’s Water Technologies and Solutions (WTS) Australian business which is active in the following:

  • Participation in the design and construction of water and wastewater treatment facilities insofar as it relates to the technological aspects of such projects
  • The supply of equipment and technological solutions for water and wastewater treatment facilities (including after sales service)
  • The operation and maintenance of water and wastewater treatment services, primarily involving supplying ongoing maintenance and support for the WTS technology that has been installed in a particular facility, mostly for industrial customers
  • The supply of chemicals used for chemical treatment process, as well as treatment of water and wastewater, and
  • Mobile water services.

 The new Suez entity would acquire Suez's Australian water operations in:

  • Participation in design, construction and operation contracts for new municipal facilities and major upgrades
  • The operation and maintenance of municipal water and wastewater treatment facilities
  • Water and wastewater network maintenance services, and
  • Retail water services.

* Cleanaway proposes to acquire these Sydney waste assets. This proposed acquisition is subject to a separate ACCC review.

Market inquiries

While the ACCC will consider submissions received to date regarding the original transaction, further submissions on the revised transaction are also welcome.

Submissions should be forwarded electronically (preferably in PDF format) to with the title "Submission re: Veolia/Suez - attention Elizabeth Elias/Louis Loizou".

Queries regarding the ACCC's review may be addressed to Elizabeth Elias/Louis Loizou at

Market inquiries


19/02/2021ACCC commenced informal review under the Informal Merger Review Process Guidelines.
10/03/2021Closing date for submissions.
14/04/2021ACCC paused its review while waiting for information about the revised transaction agreed by Veolia and Suez. Former proposed date for announcement of findings 13 May 2021 is delayed.
12/07/2021ACCC commenced informal review of the revised transaction.
08/09/2021Former provisional date for announcement of findings (16 September 2021) delayed to allow Veolia more time to provide additional information. The ACCC will announce a revised proposed decision date in due course.

Project staff

  • Elizabeth Elias
  • Louis Loizou

Contact email