Veolia sells its stake in Lydec in Morocco

Veolia announced the signing of an agreement with the Moroccan authorities for the sale of its stake in Lydec to Société Régionale Multiservices Casablanca-Settat. This commitment is part of the agreements made during the acquisition of Suez in 2022. Lydec manages the distribution of drinking water, electricity, sanitation and public lighting for Casablanca and its surroundings.

Completion of this transaction is expected by the end of 2024, subject to the necessary administrative approvals. Veolia specifies that this sale will not impact its financial forecasts for 2024 nor the objectives of its GreenUp strategic plan.

Estelle Brachlianoff, general director of Veolia, welcomed Lydec's contribution to the development of public services in Morocco and stressed that this sale aims to ensure a harmonious transition for local populations. Veolia will maintain its presence in Morocco, particularly in Rabat, Tangier and Tetouan.