In accordance with the commitments made to the Moroccan competition authorities, Veolia has reached an agreement to sell its entire stake in Lydec, a company responsible for managing public services in Casablanca and its region, to Société Régionale Multiservices Casablanca-Settat.
The transaction is expected to be completed by the end of 2024, subject to obtaining the necessary administrative approvals.
This sale will not impact Veolia’s 2024 financial guidance or the objectives of its GreenUp strategic plan.
Following this transaction, Veolia will remain a major partner of the Kingdom, present in particular in water and electricity distribution through its contracts in Rabat, Tangiers and Tetouan.
“We recognise 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”, said Estelle Brachlianoff, Chief Executive Officer of Veolia.
Source : Veolia
