Latham Advises Saur on Its Acquisition of Veolia’s European Mobile Water Services Division
Latham & Watkins has advised Saur, a leading innovator and service provider in the global water sector, on its agreement to acquire Veolia’s European Mobile Water Services division, one of the main mobile water players in Europe, as part of the commitments made by Veolia to address the European Commission’s competition concerns following its acquisition of Suez.
The agreement is formalized through a unilateral put option, which will allow the parties to complete the transaction for a total consideration of approximately €190 million, subject to the consultation process of Veolia’s employee representative bodies and receipt of the necessary regulatory approvals.
Veolia’s European Mobile Water Services will become the global Mobile Water Services platform of Nijhuis Saur Industries (NSI). The transaction is expected to close before year-end 2022, subject to receipt of antitrust approvals and satisfaction of customary closing conditions.
The Latham team was led by Paris antitrust partner Jacques-Philippe Gunther with Brussels antitrust associate Clément Pradille and Paris antitrust associate Anne-Claire Théry. Advice was provided on corporate matters by Paris partner Pierre-Louis Clero, with Paris associates Adrien Levallois and Lorraine Dorval; on employment matters by Paris partner Matthias Rubner, with Paris associate Léo Theillac; and on tax matters by Paris counsel Cécile Mariotti with Paris associate Camille Pons.