Suez sold to Prezero

Suez sold to Prezero

03.06.2021

With the completion of the acquisition by Prezero, most of Suez Germany will be absorbed into the Schwarz Group.

 

Large parts of Suez's recycling and recovery activities in Germany now belong to Prezero and thus to the Schwarz Group. All services and contracts of the sold companies are to remain in place, according to the information provided. Customer relationships and cooperations will continue as before, but a new name and logo will be used externally, is said. According to the company's own information, the group most recently employed 1,900 people in Germany and generated annual sales of around half a billion euros. The businesses parts sold to Prezero are valued at 1.1 billion euros. The European Commission had approved the sale in mid-April on condition that Suez's light packaging sorting business in the Netherlands be divested. However, the French group's remaining waste management activities in Germany, such as its Belland Vision subsidiary, the hazardous waste and plastics recycling business, are also reported to be undergoing a change of ownership soon. These are to go to rival Veolia, subject to a final agreement on the sale of Suez France. Veolia says it is confident of obtaining approval for the acquisition from international competition authorities.

Sources:

  • euwid-recycling.de, Euwid Recycling und Entsorgung 22/2021 (1.6.2020)
  • Photo: © Prezero

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