Engie: sale of Suez stake to Veolia

(CercleFinance.com) - Engie indicates that its Board of Directors has accepted the offer of acquisition by Veolia of a 29.
9% stake in Suez for a price of 18 euros per share, a premium of 75% over the unaffected share price of 30 July, paid immediately in cash.

It has taken note of all the commitments undertaken by Veolia and especially of its unconditional commitment not to launch a hostile takeover bid following the acquisition of the stake, and of the talks between the parties on the industrial project.

The energy group underlines that the proceeds from this transaction will come to 3.4 billion euros and that a capital gain of 1.8 billion euros before tax will be recorded in its 2020 accounts.

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