Posted on Feb 27, 2019 2021 at 11:10Updated Feb 27, 2019 2021 at 11:20
More than ever, China is at the heart of all the issues for Suez as for Veolia. In recent months, the two French giants of environmental services have been advancing their pawns. Suez has put 693 million euros on the table to buy the interests of its historic local partner, a Hong Kong family, and to own 100% of the two holding companies overseeing its Chinese activities. Veolia, on the other hand, has chosen with its partner Beijing Capital Group to negotiate the resale to the city of Shenzhen, neighboring Hong Kong, of the municipal water concession won in 2003 for fifty years. The city would rise before term from 55% to 100%. The operation, the amount not confirmed because the agreement remains to be finalized, would be of the order of 5.7 billion yuan, or 726 million euros, according to the specialist letter “Global Water Intelligence”.
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