Interview 15 April 2021

Veolia/Suez Merger-Acquisition: Audrey Rouziès, Professor of Strategy at TSM, Decodes the News

Audrey Rouzies, a specialist in mergers and acquisitions, shares her expertise on the Veolia-Suez merger on TV5 Monde.


Interviewed for TV5 Monde’s 64 minutes on 13 April 2021 as part of the report on the Veolia/Suez merger, Audrey Rouziès explains why domestic acquisitions are not necessarily less complex than international ones.

Access the 64-minute replay on TV5 Monde(from 13:12)


The Veolia/Suez Merger

The two French water and waste management giants have reached a merger and acquisition agreement which, according to Veolia’s press release, should lead to the construction of a global champion of ecological transformation.

This agreement is the conclusion of a complicated dialogue between the two groups, in which the French government was involved.


Domestic Mergers and Acquisitions: Not So Simple

Audrey Rouziès reviews the dynamics of mergers and acquisitions and analyses the reasons that made this agreement difficult. She especially points out that, contrary to popular belief, the operation is not easier just because two companies from the same country are involved in the merger and acquisition.

Although Veolia and Suez are two French entities, they have different corporate cultures: “They have different liabilities, they have a different history, they have different ways of working.” However, because the two companies have the same nationality, the interlocutors on both sides may have overlooked these aspects, relying on a supposed common culture while focusing more on the strategic and financial stakes of the merger-acquisition.


Watch the full interview below

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