Spanish banking group La Caixa, through its holding company Criteria Caixa, announced on March 4, 2025, that it will acquire a 5% stake in Veolia, making it a strategic investor in the French environmental services giant. As part of the deal, La Caixa will have a representative on Veolia’s board of directors, strengthening its position within the company. This partnership marks a new step in La Caixa’s diversification strategy.
Veolia, which recently posted strong financial results, saw its net profit rise by 17.1% in 2024, reaching €1.1bn. This success is attributed to the first year of its “GreenUp” strategic plan, which aims to refocus the company’s activities on more profitable cutting-edge technologies. Veolia’s annual turnover also grew by 5%, reaching €44.7bn. This growth has been supported by the optimisation of its portfolio and the adoption of innovative solutions in the environmental sector.
La Caixa’s stake, which is capped at 5.5% of Veolia’s capital, aligns with the Spanish investor’s desire to expand in strategic sectors such as energy, telecommunications, and essential services. This collaboration reflects La Caixa’s interest in businesses operating in these key areas. The group confirmed that it will retain its shares for at least two years to support Veolia’s strategic development.
Antoine Frérot, Chairman of Veolia, expressed his satisfaction with the new partnership, emphasising that La Caixa’s commitment will have a positive impact on the future of the group, particularly in supporting its independence and growth plan.
La Caixa joins major shareholders
La Caixa’s stake in Veolia places it alongside other prominent shareholders, such as BlackRock, Amundi, and Caisse des Dépôts, each holding around 5% of the company’s capital. This group of investors, with diverse profiles, underscores Veolia’s appeal to leading institutional players.
Veolia, a major player in the water, waste management, and renewable energy sectors, now benefits from additional strategic support to accelerate its energy transition and international development. La Caixa’s presence on the board is expected to strengthen coordination among stakeholders and foster better long-term decision-making.
Development focused on innovation and efficiency
Veolia’s strategic direction, focused on innovation and profitability, is part of a broader transformation towards sustainability. The “GreenUp” plan allows the group to increase its margins while investing in cutting-edge treatment and recycling technologies. In this context, La Caixa’s involvement brings not only financial resources but also valuable expertise in the essential services sector.
The partnership with La Caixa is expected to help accelerate the implementation of Veolia’s projects while reinforcing its position in both the European and global markets. With clear growth objectives, the group is positioning itself as a key player in the energy transition and sustainable development.
