Suez: Veolia wants to buy out Engie's stake
(CercleFinance.com) - Veolia has announced that Engie has made a firm offer to acquire 29.
9% of Suez's shares, following Engie's announcement, on 31 July, of the launch of a strategic review, including its stake in Suez.
This offer, at a price of 15.50 euros per share, represents a premium of 50% over the closing price of 30 July, which can be implemented immediately, is valid until 30 September 2020. This offer, unanimously approved by Veolia's Board, would be paid in cash.
If accepted, following the acquisition of 29.9% of the Suez shares, Veolia intends to file a voluntary tender offer for the remaining shares, as soon as the necessary regulatory authorisations are obtained, within 12 to 18 months.
Clearly the talk of the town on Monday morning, the Suez share is soaring over 17% in early trading.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
9% of Suez's shares, following Engie's announcement, on 31 July, of the launch of a strategic review, including its stake in Suez.
This offer, at a price of 15.50 euros per share, represents a premium of 50% over the closing price of 30 July, which can be implemented immediately, is valid until 30 September 2020. This offer, unanimously approved by Veolia's Board, would be paid in cash.
If accepted, following the acquisition of 29.9% of the Suez shares, Veolia intends to file a voluntary tender offer for the remaining shares, as soon as the necessary regulatory authorisations are obtained, within 12 to 18 months.
Clearly the talk of the town on Monday morning, the Suez share is soaring over 17% in early trading.
Copyright (c) 2020 CercleFinance.com. All rights reserved.