Veolia finalizes sale of Lydec stake to Société Régionale Multiservices Casablanca-Settat

Veolia, a global leader in optimized resource management, has announced a significant transaction with Société Régionale Multiservices Casablanca-Settat for the sale of its entire stake in Lydec. This move comes as part of Veolia‘s compliance with commitments made to the Moroccan competition authorities following its acquisition of Suez in 2022.

Lydec, which has been under Veolia’s umbrella since the takeover, is responsible for the delegated management of public services in Casablanca and its region, including the distribution of drinking water, electricity, wastewater treatment, and public lighting. The company has played a pivotal role in the development and modernization of these essential services in Morocco‘s largest city for over 27 years.

The transaction is slated for completion by the end of 2024, pending all necessary administrative approvals. Despite the divestiture, Veolia assures that this move will not impact its financial guidance for 2024 nor alter the objectives set forth in its GreenUp strategic plan, which focuses on sustainability and innovation in resource management.

Estelle Brachlianoff, Chief Executive Officer of Veolia, commented on the transition, stating, “We recognize Lydec’s contribution to the development of essential water and sanitation services in Morocco for more than 27 years. This sale will enable a smooth transition for the benefit of local populations and will support the establishment of the new Multiservice regional corporations.”

Following this divestiture, Veolia will continue its strong presence in Morocco, particularly in water and electricity distribution, with ongoing contracts in Rabat, Tangiers, and Tetouan. This repositioning aligns with Veolia’s broader strategy to streamline operations and focus on core areas where it can drive the most value and sustainability.