Washington D.C. - Today, Veolia announced the acquisition of 29.9 percent of Suez with a plan to acquire full control, merging the two largest water corporations in the world. As part of the deal, Veolia would spin off the Suez water business in France to Meridiam to avoid French antitrust hurdles, but the corporation will retain control of the water assets in the United States, Spain and Chile.
In response to the development, Food & Water Action Public Water for All Campaign Director Mary Grant issued the following statement:
“Veolia’s global domination of public water services is becoming a terrifying reality. The merger of the world’s largest water corporations will erode any semblance of competition for water privatization deals. This lack of competition will lead to unaffordable costs for families, slack maintenance and safety procedures, loss of union jobs, and potentially rampant corruption. Water privatization has been a disaster for communities across the United States and around the world. As the fiscal realities of the COVID crisis begin to set in for struggling municipalities, some may consider selling off their valuable water systems as a short-term solution. But this would create long-term harm. Communities must revert all privatized water and sewer systems to public control to ensure safety and affordability for all.”
Contact: Seth Gladstone - sgladstone[at]fwwatch[dot]org, 917.363.6615