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Veolia: ups bid E18 for 29.9% of Suez

( - Veolia has decided to raise its offer in order to present the best possible offer in view of today's deliberation by Engie's Board.

Veolia has improved the price of its proposal to buy 29.9% of Suez from Engie to 18 euros per share (coupon attached).

Veolia has undertaken to maintain all employees in France if it takes control of Suez. Veolia also undertakes to integrate Suez's senior executives into the management bodies.

After the acquisition of the 29.9% block of Suez from Engie, Veolia will only file a public offer for 70.1% of Suez's capital provided that it is friendly.

Veolia said that its intention to file a public offer will be subject to approval from the Suez's board of directors.

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