After the Veolia–Suez combination: the reshaped global services map

Veolia's acquisition of Suez, completed in 2022 after a contested takeover battle, created the world's largest environmental-services group. To satisfy competition authorities, a substantial perimeter — including most of Suez's French water business and key international assets — was carved out into a re-launched SUEZ owned by a consortium of investors.

Two years on, the practical map matters more than the deal drama: Veolia consolidated its position across municipal concessions, industrial services and technologies (including the former GE Water/WTS portfolio), while new SUEZ rebuilt around French municipal water, smart-water platforms and selective international growth — notably its long-standing joint ventures in Greater China and Southeast Asia.

For Asian buyers and partners, both groups remain reference operators; for competitors, the consolidation opened rare mid-market space in international concessions.