Veolia: favourable ruling against Suez
(CercleFinance.com) - Veolia has announced the decision of the President of the Nanterre Commercial Court, which prohibits Suez from taking any decision "to render irrevocable the foreign inalienability mechanism of Suez Eau France, designed and implemented to prevent Veolia from carrying out its takeover project" via a "stichting-foundation" in the Netherlands.
This prohibition shall be valid until the end of any meeting of a future general shareholder meeting of Suez convened to rule on the said legal arrangement and its consequences, and at the latest until the AGM ruling on the financial statements for the year ended 31 December 2020.
"In the meantime, Veolia will sue the Suez group as soon as possible to have this system, which violates essential rules of French law, judged null and void," Veolia added.
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