Suez: says Veolia's project 'not acceptable'

(CercleFinance.com) - At its meeting of 24 February Suez's Board of Directors unanimously decided that the conditions were not in place to welcome Veolia's industrial project and its 18-euro per share offer.


"The Board of Directors reiterates its objective to reach a solution that delivers a fair valuation of the Group for its shareholders, provides social guarantees for employees, ensures that all the Group's commitments to its customers are maintained and conforms to SUEZ's corporate interest," it said.

The group believes that Suez's social interest is not preserved in an operation that involves its dismantling. It also says that the transaction planned by Veolia calls into question the Suez 2030 plan and would have a negative impact on the value of the Suez Group.

Finally, Suez's management says that the company's 2020 results published today confirm that the Suez share price proposed by Veolia and payable no earlier than May 2022 is unsatisfactory.


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