PARIS: Veolia, a global leader in ecological transformation, has completed the sale of its water and infrastructure subsidiary SADE to NGE, an independent public works group, for an enterprise value of 260 million euros. The deal was announced on Monday, after obtaining the necessary regulatory approvals and consulting with the employee representatives.
SADE, which specialises in the construction and rehabilitation of water and infrastructure networks, had an annual revenue of around €1.1 billion in 2022 and a workforce of around 6,900. Veolia said that the disposal was part of the regular review of its asset portfolio, as construction activities were no longer part of its strategic business lines.
Estelle Brachlianoff, CEO of Veolia, said that she was “fully satisfied” with the sale and “reassured” about the industrial future offered by NGE, a recognised player in the public works sector.
Veolia group aims to become the benchmark company for ecological transformation, with nearly 218,000 employees on five continents. The group provides solutions for the management of water, waste and energy, and achieved consolidated revenue of 45,351 million euros in 2023.