---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-290738"
form_type: "8-K"
ticker: "NVRI"
cik: "0000045876"
company_name: "ENVIRI Corp"
filed_at: "2025-11-21T23:59:59+00:00"
generated_at: "2026-05-16T17:45:43.005036+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-290738
- form_type: 8-K
- ticker: NVRI
- cik: 0000045876
- company_name: ENVIRI Corp
- filed_at: 2025-11-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/45876/000119312525290738/0001193125-25-290738-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/45876/000119312525290738/d15543d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-290738
- JSON: https://secwatch.observer/filing/0001193125-25-290738.json
- Plain text: https://secwatch.observer/filing/0001193125-25-290738.txt

## Key facts
- Material Agreements
  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
  source text: 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”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/45876/000119312525290738/0001193125-25-290738-index.htm
- Material Agreements
  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
  source text: 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”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/45876/000119312525290738/0001193125-25-290738-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.