Veolia: firm offer to buy Engie's stake in Suez
(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, in 12 to 18 months.
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, in 12 to 18 months.
Copyright (c) 2020 CercleFinance.com. All rights reserved.