Veolia: sells its stake in Lydec (Morocco)
(CercleFinance.com) - Veolia announces that it has reached an agreement with the Moroccan authorities to sell its entire stake in Lydec, acquired when Suez took control in 2022, to Société Régionale Multiservices Casablanca-Settat.
Lydec provides outsourced management of public services for the distribution of drinking water, electricity, wastewater and public lighting for the city of Casablanca and its region, Veolia says, which will remain present in Morocco via its contracts in Rabat, Tangiers and Tetouan.
The financial closing of the transaction, which complies with the commitments made to the Moroccan competition authorities, is expected to take place by the end of 2024, once all the necessary administrative approvals have been obtained.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
Lydec provides outsourced management of public services for the distribution of drinking water, electricity, wastewater and public lighting for the city of Casablanca and its region, Veolia says, which will remain present in Morocco via its contracts in Rabat, Tangiers and Tetouan.
The financial closing of the transaction, which complies with the commitments made to the Moroccan competition authorities, is expected to take place by the end of 2024, once all the necessary administrative approvals have been obtained.
Copyright (c) 2024 CercleFinance.com. All rights reserved.