Enviri sells Clean Earth to Veolia for $3.04B, plans spin-off of Harsco businesses to shareholders

ENVIRI Corp

Cash consideration of $14.50-$16.50 per share plus 0.33 shares of New Enviri per Enviri share.
Transaction includes taxable spin-off of Harsco Environmental and Rail into New Enviri; expected mid-2026 close.
New Enviri will have ~2.0x net leverage, undrawn $1.35B debt repaid, and significant cash at close.
Russell Hochman appointed President/COO of Enviri, will become CEO of New Enviri.
Enviri shareholders retain full ownership of New Enviri; company expects right-sized corporate costs.

item 1.01 item 5.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ENVIRI Corp entered into Separation Agreement with Veolia Environnement S.A. (effective 2025-11-20).

Action: entry
Counterparty: Veolia Environnement S.A.
Effective: 2025-11-20

Exact text from the filing

a Separation Agreement, dated as of November 20, 2025 (the “Separation Agreement”), by and among the Corporation, CLEH, Buyer, and Enviri II Corporation, a newly formed Delaware corporation and a direct wholly owned subsidiary of the Corporation (“New Enviri”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ENVIRI Corp entered into Agreement and Plan of Merger with Veolia Environnement S.A. (effective 2025-11-20).

Action: entry
Agreement: merger
Counterparty: Veolia Environnement S.A.
Effective: 2025-11-20

Exact text from the filing

Agreement and Plan of Merger, dated as of November 20, 2025 (the “Merger Agreement”), by and among the Corporation, CLEH, Inc., a newly formed Delaware corporation and a direct wholly owned subsidiary of the Corporation (“CLEH”), Enviri LLC, a Delaware limited liability company and a direct wholly owned subsidiary of CLEH (“Enviri LLC”), Buyer, and Liberty Merger Sub Inc., a Delaware corporation and wholly owned indirect subsidiary of Buyer (“Merger Sub”)

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197 material agreements filed in the last 30 days. Browse all material agreements →

ENVIRI Corp filing history →

Source: SEC EDGAR

accession 0001193125-25-290738

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