Agreement on the creation of a “new SUEZ”


Paris, June 30, 2021 (GLOBE NEWSWIRE) – The Consortium of investors made up of Meridiam and Global Infrastructure Partners, each with 40% of the capital, and the Caisse des Dépôts Group with CNP Assurances, with 20% of the capital (including 8% for CNP Assurances) 1 submitted a definitive firm offer to Suez and Veolia for the purchase of the “new SUEZ” on June 29, 2021. This offer was approved by the Boards of Directors of Suez and Veolia today, with a agreement signed with the Consortium. The transaction remains subject to certain conditions, including approval by Suez shareholders and obtaining the required regulatory approvals.

The offer confirms the terms of the memorandum of understanding signed on May 14, 2021 between Suez, Veolia and the Consortium, including in particular:

• The scope of the assets, companies and activities that will be acquired by the Consortium to form the new SUEZ. The scope includes in particular all the water and waste management activities of Suez in France including R&D activities, construction activities (IT), Suez water activities in Italy, the Czech Republic, Poland, Africa, Central Asia, India, Bangladesh, Sri Lanka, Australia, New Zealand, Asia (including municipal and industrial water activities in Shanghai and Macao)

• The next steps in the reorganization process leading to the sale of the new SUEZ perimeter to the consortium

• 5-year social commitments

• The objective for employees to reach 10% of the share capital within 5 to 7 years

• Enterprise value of the new SUEZ consistent with the valuation of the Suez Group implied by the offer of € 20.50 per share, coupon attached, for Suez shares not yet held by Veolia

The new SUEZ will be a major player in environmental services with an annual turnover of nearly 7 billion euros and strong prospects for growth and development capacities both in France and internationally. It will benefit from a solid industrial and technological base, supported by a stable and long-lasting shareholder base. With a history of operational excellence and a solid management team, the new SUEZ will continue to offer the best quality of service to its end customers.

Thierry Déau, Chairman and Founder of Meridiam, declared: “This agreement represents a new stage in the construction of the new SUEZ. Under the terms of the agreements signed, the company will benefit from expert and recognized employees and strategic positions at the forefront of the water and waste management sector in France and around the world. But our ambition for this new SUEZ, with all our partners, does not stop there, it is clear and strong: to strengthen Suez’s presence and leadership in France and internationally. , increase investments in innovative solutions, R&D and key high-growth sectors, and remain among the best in terms of impact and social and environmental responsibility ”.

Adebayo Ogunlesi, Chairman and CEO of GIP, said: “GIP is delighted to have partnered with Meridiam, CDC Group and CNP Assurances to take this important step of submitting a final and binding offer for the creation and acquisition of a new SUEZ. As an experienced long-term infrastructure investor with a strong operational focus, we believe GIP is the ideal partner for the future of the business. The GIP, with its partners, will form a stable shareholder base, is committed to investing in the new SUEZ to maintain its leadership position in the environmental services sector and support its growth and development objectives both in France and internationally, for the benefit of all its stakeholders. With strong alignment among shareholders, a world-class management team and cutting-edge technology, we believe the new SUEZ is well positioned for long-term success and to play a leading role as a global company. socially responsible.

Eric Lombard, CEO of the Caisse des Dépôts group, declared: “This agreement shows that the Caisse des Dépôts group is more than ever committed to local and regional development. We fully intend to reaffirm our desire to build an agile and innovative group, led by leading teams. This investment complements CDC’s rich history of investing in energy networks. We will now fully play our role in water networks and waste management by supporting the development of the company with all of its employees, over time and with respect for the environment ”.

Stéphane Dedeyan, CEO of CNP Assurances, declared: “As a benchmark player in the French life and health insurance market and a major investor in infrastructures in France, we are happy to support the creation and development of of the new SUEZ for the benefit of the environment and society as a whole. In partnership with Caisse des Dépôts, we intend to participate fully in the development of water distribution and waste management networks, as part of CNP Assurances’ strategy of being a responsible and long-term investor ”.

Subject to obtaining the required regulatory authorizations, the sale of SUEZ neuf to the Consortium should be finalized at the same time as Veolia’s public offer at the end of 2021.

About Meridiam

Meridiam was founded in 2005 by Thierry Déau, with the conviction that the alignment of interests between the public and private sectors can provide critical solutions to the collective needs of communities. Meridiam is an independent investment company under French law and asset manager. The firm specializes in the development, financing and long-term management of sustainable public infrastructure in three key sectors: mobility, energy transition and the environment, and social infrastructure. With offices in Addis Ababa, Amman, Dakar, Istanbul, New York, Luxembourg, Paris, Toronto and Vienna, Meridiam currently manages US $ 10 billion and over 90 projects and assets to date. Meridiam is ISO 9001: 2015 certified, Advanced Sustainability Rating by VigeoEiris (Moody’s) and applies a proprietary ESG and impact methodology based on the United Nations Sustainable Development Goals (SDGs). For more information, visit www.meridiam.com

Meridiam Meridiam Meridiam Contact: Antoine Lenoir – +33 6 07 50 75 85 – +33 1 53 34 96 92 – [email protected]

About GIP

Global Infrastructure Partners (GIP) is an independent fund manager and a global leader in infrastructure investments. Founded in 2006, GIP’s teams are spread over 10 offices around the world and invest in the energy, transport and environmental services sectors. GIP manages approximately $ 75 billion on behalf of more than 400 institutional investors, including many renowned European and French institutions. GIP has invested over $ 18 billion in European companies to date. GIP’s investment approach is based on the combination of its industrial expertise and best management practices. GIP focuses its efforts on reliability, security, quality of service, growth investments and operational excellence, in particular through innovation and technology. Water and environmental services are one of the pillars of GIP’s expertise. GIP adheres to the highest standards of responsible investment and is notably a signatory of the “Principles for Responsible Investment” promoted by the United Nations and also a founding member of the “One Planet Sovereign Wealth Funds” initiative. For more information, visit www.global-infra.com

Contact: Charlotte L’Hélias – +33 6 11 85 14 80 – +33 1 57 97 79 04 – [email protected]

Pendleton Pen – 914-364-8024 – [email protected]

About the Caisse des Dépôts group

Caisse des Dépôts and its subsidiaries form a public group of long-term investors serving the general interest and the economic development of the regions. It combines five areas of expertise: retirement and vocational training, asset management, monitoring of subsidiaries and strategic holdings, corporate financing (with Bpifrance) and Banque des Territoires.

For more information, visit www.caissedesdepots.fr

Contact: Alexis Nugues – +33 6 81 55 59 24 – +33 1 58 50 31 93 – [email protected]

About CNP Assurances

A benchmark player in the French life and health insurance market, CNP Assurances is present in 19 countries in Europe, particularly in Italy, and in Latin America, where it has a strong presence in Brazil, its second largest market. A player in insurance, co-insurance and reinsurance, CNP Assurances designs innovative provident / provident and savings / retirement solutions. The company has more than 36 million people in provident / provident insurance worldwide and more than 12 million in savings / retirement. In accordance with its business model, its solutions are distributed by multiple partners and adapt to their physical or digital distribution method, as well as to the needs of customers in each country in terms of protection and convenience. CNP Assurances has been listed on the Paris Stock Exchange since October 1998 and is a subsidiary of La Banque Postale. The Company achieved a net profit of € 1,350 million in 2020. For more information, visit www.cnp.fr/en/the-cnp-assurances-group

Contact: Florence de Montmarin – + 33 1 42 18 86 51 – [email protected]


        
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