French environmental services group Veolia completed its acquisition of US hazardous waste specialist Clean Earth at the beginning of this week. The transaction, which was announced last November, valued the company at $3bn, equivalent to €2.6bn at current exchange rates.
The acquisition "strengthens our position in the fast-growing US hazardous waste market, unlocks significant value creation potential and further targets our offerings to the most dynamic sectors of the American economy," Veolia CEO Estelle Brachlianoff said at the closing of the deal. "Combined with the acceleration of our asset rotation programme, it reinforces Veolia’s capacity to address the growing demand for environmental security."
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