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Friendly deal between Suez and Veolia is possible says French public lender CDC

  • Friendly deal between Suez and Veolia is possible says French public lender CDC
    Eric Lombard, CEO of CDC. Credit: Wikipedia

For the French public sector financial institution Caisse des Dépôts (CDC), a friendly deal between Suez and its rival Veolia “is possible” said CEO Éric Lombard on Monday.

Lombard added during an online press conference that “the creation of a national champion seems a good thing in our opinion(…) It is possible that a friendly deal is in the works,” reported Reuters.  

On August 30th, Veolia offered to buy 29.9% of Engie’s shares in Suez, but the energy group led by Jean-Pierre Clamadieu said that this proposal was not high enough and was open to counter offers.

Meanwhile, Suez has great uncertainties about a possible merger with Veolia. CEO Bernard Camus said on Sunday that the proposal would be “disastrous for France.”

According to the French daily Les Echos, the CDC views this proposal positively as it holds a 5.7% stake in Veolia and a 1.5% stake in Suez.

The institution also announced it would be investing 26 billion of equity capital in sectors covered by Suez and Veolia. Éric Lombard said that the CDC was interested “in sectors that affect the daily lives of the French citizens and that will contribute to accelerating more environmentally friendly economic development."   

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