CCI Press Release dated 23 Nov 2021

The Competition Commission of India (CCI) approves proposed combination involving (a) acquisition of stake by Veolia Environnement S.A (Veolia) in SUEZ (S.A), and (b) acquisition of stake in New Suez by Meridiam, Global Infrastructure Management, LLC, La Caisse des dépôts et consignations and CNP Assurances.

Veolia – Veolia is incorporated in France. Veolia operates through three business lines worldwide for (i) water management, (ii) waste management, and (iii) energy solutions and sources.

Suez – Suez is incorporated in France. Currently, Suez is deployed in three business segments worldwide: (i) Water, (ii) Recycling and Recovery, and (iii) Environmental Tech & Solutions.

Meridiam – Meridiam, incorporated in France is a global player, specializing in the development, financing and long-term management of infrastructure. Meridiam develops, finances, builds and manages various types of projects including, transport infrastructure (high-speed railways, motorways, tunnels, ports, tramways, etc.), social infrastructure (schools, universities, healthcare centers, stadiums, etc.), public buildings (courthouses, government offices, ministries, etc.), networks and public services (water, waste management, energy, etc.)

GIP – GIP is incorporated in USA, is an independent infrastructure fund manager investing in the transportation, energy, waste and water sectors. GIP manages approximately USD billion in assets across all sectors and its portfolio companies generate combined annual revenues of USD billion dollars.

CDC – CDC is a French public establishment with a special legal status created by the law of 28 April 1816 and governed by Articles L. 518-2 and seq of the French Monetary and Financial Code. CDC carries out public interest missions in support of public policies conducted by the State and local authorities, focusing on economic, social and sustainable development. Through its subsidiaries, CDC also has activities that are open to competition and are grouped around four divisions: (i) environment and energy, (ii) real estate, (iii) capital investment, and (iv) services.

CNP – CNP is incorporated in France and is 100% controlled by CDC. CNP is active in the insurance market in Europe and Latin America. As an insurance, coinsurance, and reinsurance provider, CNP designs innovative personal risk/protection and savings/retirement solutions.

Detailed order of the CCI will follow.