Suez: Engie cedes its stake to Veolia

(CercleFinance.com) - Referring to Engie's transfer of 29.
9% of its capital to Veolia, for a price of 18 euros per share paid immediately in cash, Suez considers that this transaction has been conducted in a "hostile manner and under unprecedented and irregular conditions”.

The group will “use all the means at its disposal to protect the interests of its employees, its clients and all its stakeholders, in particular to ensure equal and fair treatment of all its shareholders and avoid a creeping takeover or de facto control”.

Veolia has confirmed its intention to submit a voluntary public takeover bid on the balance of Suez's capital to complete the merger of the two companies, the offer being at the same price as that paid to Engie.

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