Veolia: agreement to merge with Suez
(CercleFinance.com) - Veolia and Suez announce that yesterday evening their respective Boards of Directors reached an agreement in principle on the main terms and conditions of their merger.
The two groups have agreed on a price of 20.50 euros per Suez share (cum dividend), conditional on the conclusion of the merger agreement.
The agreement would enable the creation of a new Suez made up of assets forming a coherent and sustainable group from an industrial and social point of view, which also benefits from real growth potential, with sales of around 7 billion euros, the group said.
Antoine Frérot, Chairman and CEO of Veolia, said that this agreement is beneficial for all: it guarantees the sustainability of Suez in France in order to preserve competition, while guaranteeing jobs. All stakeholders in both groups are therefore winners. With confrontations now over, the time for a merger has begun.
Clearly talk of the town on Monday, in the first hour of trading, the Veolia share was up almost 6%, while Suez was definitely not stuck in a canal, steaming ahead over 7%.
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The two groups have agreed on a price of 20.50 euros per Suez share (cum dividend), conditional on the conclusion of the merger agreement.
The agreement would enable the creation of a new Suez made up of assets forming a coherent and sustainable group from an industrial and social point of view, which also benefits from real growth potential, with sales of around 7 billion euros, the group said.
Antoine Frérot, Chairman and CEO of Veolia, said that this agreement is beneficial for all: it guarantees the sustainability of Suez in France in order to preserve competition, while guaranteeing jobs. All stakeholders in both groups are therefore winners. With confrontations now over, the time for a merger has begun.
Clearly talk of the town on Monday, in the first hour of trading, the Veolia share was up almost 6%, while Suez was definitely not stuck in a canal, steaming ahead over 7%.
Copyright (c) 2021 CercleFinance.com. All rights reserved.