Meed | Butec takes over Veolia Morocco subsidiary

Butec takes over Veolia Morocco subsidiary

31 January 2024

Lebanon and Dubai-based Butec Group has taken over the full range of Moroccan businesses of the Societe des Eaux de Marseille (SEM), a subsidiary of France's Veolia Group, by repurchasing the shares of Eaux de Marseille Maroc (EMM) on 17 January.

EMM caters to a large base of public and private sector customers, in the areas of water, sanitation and customer relations, Butec said in a statement.

It added: "The acquisition of EMM aligns with Butec Group’s growth strategy in Africa and the Middle East by combining businesses that are essential for the preservation of the environment through the rationalising of water and energy resources."

The transaction follows the most recent acquisition by Butec Group of the energy services businesses of France's Engie Group in Africa. The Engie business unit it purchased is also the operator of a proactive energy leak detection and repair project in Lebanon on a network serving nearly two million consumers.

The acquisitions help Butec "enhance and upgrade its skills in the management of essential services, more particularly in aspects relating to the optimisation of water resources and reduction of water stress", according to the firm's chairman, Ziad Younes.

In 2021, Butec and the UAE's Alec established a joint venture (JV) to participate in utilities, industrial and environmental projects in the Middle East.

The JV will entail the consolidation of assets, personnel and expertise to provide “a highly competitive offering” for projects in the three sectors, Alec said at the time.

Photo: Pixabay

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Jennifer Aguinaldo