VEOLIA SUCCEEDS ITS OFFER FOR SUEZ WITH 86.22% OF THE SHARE CAPITAL
PARIS (Reuters) – Veolia has successfully completed its takeover bid for Suez, in which it controls 86.22% of the capital following its offer, according to provisional results published on Friday by the Autorité des marchés financiers (AMF).
The French water and waste management group has announced its intention to request a reopening of its offer on its competitor from January 12 to 27 inclusive, in order to reach the threshold of 90% of the capital allowing it to withdraw Suez from the side.
The AMF will communicate the final results of the offer no later than Monday, before its possible extension, after final checks.
The success of this takeover put 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 out Engie’s stake in Suez, which then battled to try to avoid d ‘to be swallowed by its competitor.
The two groups ended up agreeing last spring on a merger estimated at around 13 billion euros, which involves in particular the splitting of Suez’s French activities in water and waste as well as certain international activities. within an independent entity.
With this acquisition, Veolia intends to strengthen itself in the face of international competition, particularly from China, in a sector supposed to play a leading role in the adaptation of economies to climate change.
(Written by Bertrand Boucey, edited by Jean-Stéphane Brosse)