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8 January 2008 - Gide Loyrette Nouel Casablanca, legal counsel on the capital withdrawal of SOMED and ONA from Amendis, a subsidiary of Veolia Environnement in Morocco:
Gide Loyrette Nouel Casablanca advised Veolia on the withdrawal of ONA and SOMED groups from the capital of its subsidiary company Amendis, which manages water cleansing services and the distribution of drinking water and electricity for the northern cities of Tangiers and Tetouan.
The deal stood at 650 million DH (57.2 million Euros) paid to ONA and SOMED in proportion to their participation.
Veolia Environnement has been present in Morocco since 2002 through management delegation contracts in the fields of water distribution, electricity, stabilisation, domestic waste collection and cleaning contracts.
The team from Gide Loyrette Nouel that assisted Veolia in this operation was composed of Hicham Naciri, partner, and Julien David, senior associate.
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