Simmons & Simmons is advising Veolia on the sale of its UK regulated water businesses. The purchaser is Rift Acquisitions Limited, who are acquiring the business at auction for a total transaction value of £1,236 million. The Veolia companies being sold include Veolia Water Central, Southeast and East.
This is the latest in a series of substantial corporate transactions on which Simmons & Simmons has advised Veolia in the UK water sector in the last few years, including the acquisition of the non-regulated business of United Utilities and of Thames Water.
The Simmons & Simmons team was led by Corporate partner Arthur Stewart, and included Isabella Roberts (Corporate), Charles Bankes(Competition), Monica Ma (Pensions), Richard Pilsworth (Pensions),Nick Cronkshaw (Tax), James Bresslaw (Banking), Jeremy Cruse, William Bushill-Matthews and Kelvin Goh (Corporate).
Commenting on the transaction, Arthur Stewart, said: “We have been able to deliver a successful sale for Veolia, working together with the strong in-house team at Veolia Water UK. Our detailed knowledge of their business and the sector more generally, has been key to this.”
