Paris (AFP)

Suez announced on Wednesday that it was entering into negotiations with PreZero, the environmental branch of the Schwarz group, to sell it recycling activities in four European countries for 1.1 billion euros.

Suez, which seeks to counter an attempted takeover by its competitor Veolia, has thus reached 40% of the sales / acquisitions target provided for by its new strategic plan announced a few months ago, according to the press release.

This 2030 strategy aims in particular to concentrate the activity of the water and waste giant on areas with high added value.

With this plan, announced in October, Suez hopes in particular to dethrone Veolia from its position as world number one.

The sale announced on Wednesday, which should be completed in the first quarter of 2021, concerns recycling activities (excluding plastics recycling and hazardous waste treatment activities) in the Netherlands, Luxembourg, Germany and Poland.

"This project marks a major step in the achievement of our Suez 2030 strategic plan, presented last October, which plans to concentrate our forces, particularly in France and in Europe, on the activities and regions where we can deploy our most promising innovations. to be the leader in environmental services ", commented the Managing Director of Suez, Bertrand Camus, about an operation which" enhances the quality of our portfolio of activities ".

Against the backdrop of the battle against Veolia's takeover project, Suez's board of directors expressed "its total confidence in Suez's strategic plan as an independent company".

© 2020 AFP