Suez: confirms backing of the Ardian plan
(CercleFinance.com) - Suez indicates that its Board, which met on Sunday evening, confirms its backing of the plan proposed by Ardian and partners, the progress of which it has been examining in detail since a preliminary offer was made to Engie on 30 September.
As part of the sales process launched by Engie, the project is for the acquisition of a 29.9% stake in Suez held by Engie, immediately followed by an all-cash takeover bid for all of the group's shareholders under the same conditions.
The Board of Suez considers the plan “in the interest of Suez - its shareholders, its employees, its clients and all its stakeholders,” underlining that it will, in particular, permit Suez to reach its objective of doubling the employees' shareholding.
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As part of the sales process launched by Engie, the project is for the acquisition of a 29.9% stake in Suez held by Engie, immediately followed by an all-cash takeover bid for all of the group's shareholders under the same conditions.
The Board of Suez considers the plan “in the interest of Suez - its shareholders, its employees, its clients and all its stakeholders,” underlining that it will, in particular, permit Suez to reach its objective of doubling the employees' shareholding.
Copyright (c) 2020 CercleFinance.com. All rights reserved.