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Veolia commits not to launch hostile bid for Suez

  • Veolia commits not to launch hostile bid for Suez
    Antoine Frérot, CEO of Veolia. Image: Veolia Twitter

About the entity

Veolia
Veolia Water Technologies specializes in water treatment solutions and provides the complete range of services required to design, build, maintain and upgrade water and wastewater treatment facilities for industrial clients and public authorities.
ACCIONA
Idrica

Themes

Following constructive discussions with the management of the Suez group since October 1, and as confirmed to Jean-Pierre Clamadieu, Chairman of the Board of Engie, Veolia group announces that it unconditionally commits not to file a hostile takeover bid following the sale of the shares held by Engie in Suez. Any public takeover bid on Suez's remaining capital will therefore require a prior favorable reception from Suez's board of directors.

Veolia thus provides the guarantee expressed by Engie's board of directors, in addition to the price offered and the strong social commitments made by the Group, thus making possible the sale of the 29.9% of the capital that Engie holds in Suez.

Veolia has also made a commitment to Philippe Varin, Chairman of the Board of Suez, to respond favorably to the request formulated by Suez to the public authorities to extend the scope of the assets sold to the buyer of Suez Eau France to international water assets for a total turnover of around 5 billion euros (including 2.2 billion euros for the French Water).

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