Companies. Veolia wants to take control of the entire capital Suez


The Veolia group announced that Sunday evening it would put € 7.9 billion on the table to buy the 70.1{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} of Suezs capital that it does not hold, renouncing the kindness of its attempt to buy out its competitor .

In view of the fact that 'Veolias social interest and good market information are in need of clarification in the face of maneuvers and ambiguous statements from Suez, Ardian and GIP,' the Board of Directors of the Water and Waste Champion has decided to 'make a public takeover offer in cash a price of 18 euros per share, according to a press release.

Result of an alternative offer

Veolia, which in October bought 29.9{7d3485657e94c2a51293ca186d4450b2f27c317aa7ee3509dac6c8bbf5461118} of the capital of its major French competitor Suez, 'notes that its repeated attempts at friendliness, confirmed in its proposal of January 7, 2021, have all met resistance to its aim', he continues.

'In the last four months Suez has multiplied the measures intended to hinder the proposed offer from Veolia,' the group is justified in saying. These 'found their result in the statements made by Suez, Ardian and GIP on January 17, in which an alternative offer from the latter and the decision of the Suez Board of Directors were announced' to support this offer.

Fight between competitors

Suez has been fighting for months not to be bought out by its competitor Veolia, which cut its cards in late August, while its shareholder Engie had said a month earlier that it was open to selling its shares in Suez.

In mid-January, Suez announced that he had received an offer from the French Ardish and American funds GIP to find a 'friendly solution' with Veolia, which immediately led to an end to the rejection.

The state distanced itself from Veolias initial support for the buyout project. In early February, the Nanterre court had resumed Veolia buying Suez, admitting that 'at that point' it did not need to consult its competitors representative bodies to buy it.