PARIS (Reuters) – Veolia announced on Thursday that it holds 95.95% of the capital and voting rights of Suez following the reopening of its takeover bid for its competitor, according to provisional data.
The French water and waste management group announced on January 7 the success of its takeover bid, with 86.22% of the capital, but announced its intention to request a reopening of its offer on its competitor from January 12 to 27. January included, in order to reach the threshold of 90% of the capital enabling it to delist Suez.
As soon as the final results are published, Veolia will request the implementation of a compulsory withdrawal procedure for the Suez shares that the group does not yet hold by February 18. The Suez shares will then be delisted on Euronext Paris and Euronext Brussels.
The success of this takeover puts an end to a series of nearly 18 months opened with the announcement at the end of August 2020 by Veolia of a plan to buy Engie’s stake in Suez, which then fought to try to avoid to be swallowed up by its competitor.
The two groups ended up agreeing last spring on a merger estimated at around 13 billion euros, which notably involves the splitting of Suez’s French activities in water and waste as well as certain international activities. within an independent entity.
(Written by Jean-Stéphane Brosse)
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