Veolia Environnement S.A. reiterated on Sunday that its 29.9% stake in Suez was not and will not be for sale after its competitor informed the French water company it had received an offer from Ardian and GIP (Global Infrastructure Partners) for Veolia’s share in Suez at a price of €18 per share (cum dividend).
“Veolia reiterates this evening that the 29.9% that it owns in the capital of Suez are not and will not be for sale.”
The CEO of Veolia, Antoine Frérot, said that the firm’s stake in Suez is the first step in the inevitable construction, and under French control, of the world champion of ecological transformation.
He added: “Any project which would directly or indirectly involve the sale by Veolia of its stake in Suez, or other transfers distorting the industrial project that the Group is carrying out, is considered hostile by Veolia.”
Suez during the weekend said it was willing to open a dialogue with Veolia with the aim of building a solution in the interest of all concerned parties, which would reinforce both of the two French leaders in environmental services.
After the Board of Directors of Suez unanimously welcomed the new offer, Bertrand Camus, CEO of Suez, stated: “In keeping with our Purpose, SUEZ proposes, with the support of Ardian and GIP, to open a constructive dialogue with Veolia with the aim of building a solution in coherence with the strategies of both Groups, and which would reinforce both of the two French leaders in environmental services. This project has the support of SUEZ’ Board, its employee shareholders and the Group’s management: it respects the interests of all stakeholders - shareholders, employees and clients - in France and internationally.”
